The Saugatuck Market is definitely on the upswing. 2012 was my best year ever! and a great year for Saugatuck Real Estate in general. Number of Single Family Homes sold in Saugatuck City, Douglas City and Saugatuck Township was up by 52% - from 81 sales of single family homes in 2011 to 123 single family homes sales in 2012.
Dollars spent were up 54% in direct correlation to the numbers of homes sold. In 2011 $24M was paid for the homes and in 2012 $37M.
The median price was down 5% while the average price was up 1%. This indicates that last year prices have remained constant with the previous year primarily due to the fact that we were selling off the built up inventory from previous slower years that had resulted in there being an oversupply of homes on the market. Although the number of homes sold increased, the prices had pretty much remained constant from 2011 to 2012.
However, prices of homes in the area should increase in 2013 because the inventory is way down. IT IS A SELLER'S MARKET IN SAUGATUCK!
Two of my recent clients had to deal with multiple offers - one was a seller so multiple offers were great and increased the sales price. The other was a buyer so the multiple offer situation increased our purchase price. But we were glad to get in under the wire.
Lesson to be learned - Buyers, don't hesitate any longer. Sellers, it is your turn to be in the driver's seat! Call Dee Dee at 616-836-8535 for a free market analysis and to list your home!