ST. JOSEPH, MI – "For the last three months we have seen selling prices fluctuate but many other factors have held stable. Since September, the number of houses sold has held steady ranging from 190 to 199 houses sold per month. Over the same time, the number of foreclosed transactions has been at or near the lowest percentages for the year. The local mortgage rates for the last three months have hovered just slightly above the 4 percent rate. The average selling price took a significant dive in October, dropping 16 percent from September but now has bounced back 15 percent in November to $170,600. The median selling price over the three months held almost even for September and October but dropped 19 percent in November to $88,000," stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS®, Inc.

For the last three months we have seen selling prices fluctuate but many other factors have held stable. Since September, the number of houses sold has held steady ranging from 190 to 199 houses sold per month. Over the same time, the number of foreclosed transactions has been at or near the lowest percentages for the year. The local mortgage rates for the last three months have hovered just slightly above the 4 percent rate. The average selling price took a significant dive in October, dropping 16 percent from September but now has bounced back 15 percent in November to $170,600. The median selling price over the three months held almost even for September and October but dropped 19 percent in November to $88,000.