Jean Palmerton

Year to date sales of residential properties in Newaygo County Michigan are up slightly from the same period last year, but the average sale price is down by 33%.

In 2008, 81 residential properties sold between January 1 and April 28th; in 2009 86 properties closed.

In 2008, the average sale price for these homes was $90,400, and this year for the same period, the average sale price is $60,200.   Bank owned (repossessed) properties made up 52% of the year to date sales.

There are currently 460 residential properties listed for sale in Newaygo County, but only 50 of them are bank owned, and 13 of those have pending offers.  See foreclosure properties in Newaygo County and West Michigan

Unless we see a new surge in foreclosure properties on the market, I believe that non-foreclosure sales will soon dominate Newaygo County home sales, as the forclosure properties will diminish.

Foreclosure properties sell quickly and often have multiple offers as soon as they come on the market.  Financing these properties can be a challenge as they often need considerable repair before they can be lived in.

Based on information from the West Central Association of REALTORS MLS for the Period January 2008 through April 28 2009.  This representation is based in whole or in part on data supplied by WCAR MLS. WCAR MLS does not guarantee nor is in any way responsible for it's accuracy.  Data maintained by WCAR MLS may not reflet all real estate activity in the market.