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Press Room

March 2018 SWMI Housing Market - Selling Prices Continue to Climb

“The March housing market turned around the February market’s lackluster sales by 35 percent (248 vs. 184) and managed to increase the average and median selling prices by double digits. The total dollar volume from February to March increased by 51 percent,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.

“However, when we compare year-to-year results, the market in March 2018 had fewer houses sold at significantly higher prices from an inventory that was down 15 percent from March 2017,” continued Jeffries.

Read more: March 2018 SWMI Housing Market - Selling Prices Continue to Climb

March 2018, The Housing Market in South Haven and SWMI

In March, the number of single family home sales in the South Haven zip code 49090 fell 37 percent from February 2017 (12 vs. 19). Year-to-date in 2018, single family home sales were down 27 percent (32 vs. 44).

The average selling price for single family houses in March increased 56 percent to $345,525 from $221,158 in March 2017. At $247,450, the median selling price for single family houses was up 41 percent over the March 2017 median selling price of $175,000.

Read more: March 2018, The Housing Market in South Haven and SWMI

March 2018, The Housing Market in Southwestern Michigan

The March housing market turned around the February market’s lackluster sales by 35 percent (248 vs. 184) and managed to increase the average and median selling prices by double digits. The total dollar volume from February to March increased by 51 percent.

However, when we compare year-to-year results, the market in March 2018 had fewer houses sold at significantly higher prices from an inventory that was down 15 percent from March 2017.

The number of houses sold in March 2018 declined 13 percent from March 2017 (248 vs. 285). While the monthly and year-to-date average and median selling prices set new records over the same month in 2017; the peak year in our year-to-year comparison back to 2006. Year-to-date, the number of houses sold was down 8 percent (622 vs 675).

Read more: March 2018, The Housing Market in Southwestern Michigan

March 2018, The Housing Market in Cass County & SWMI

Overall home sales in Cass County decreased by 4 houses in March 2018 when compared to March 2017 (45 vs. 49). Year-to-date, overall home sales were down by 4 houses from 2017 (108 vs. 112).

The number of waterfront homes sold in March increased by 2 over March 2017 (11 vs. 9). Non-waterfront home sales decreased by 6 houses in March 2018 (34 vs. 40).

In March, the average selling price in Cass County for all homes dropped 8 percent to $181,659 from $197,333 in March 2017. The median selling price for all homes in March rose 10 percent to $143,500 from $130,000 in March 2017.

Read more: March 2018, The Housing Market in Cass County & SWMI

February 2018, SWMI Housing Market - Selling Prices Up Double Digits

“The number of houses sold in February 2018 was 3 houses less than in February 2017 (184 vs. 187). However, the average and median selling prices for the month are up 19 and 17 percent respectively. The increase in selling prices pushed the total dollar volume up 17 percent; making it the highest total dollar volume in the year-over-year comparison since 2006,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.

Read more: February 2018, SWMI Housing Market - Selling Prices Up Double Digits