ST. JOSEPH, MI ? "This year at the end of the third quarter, fewer homes were sold and those that sold did so at higher prices than at end of the third quarter in 2013. The number of houses sold to date was down 4 percent from last year (2229 vs. 2320). Year-to-date the average selling price was up 6 percent or almost $11,000 above last year ($192,113 vs. $181,256). The median selling price, year-to-date, was up 7 percent; raising the median selling price to $131,000 from $122,000 in 2013 at the end of the third quarter," stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS?, Inc.
Read more: September 2014 ? SWMI Housing Market Selling Prices Up
For the first time in five months selling prices dropped in October. Previously the monthly average selling prices from May to September, ranged from $199,295 to $203,326 and the median selling prices ranged from $139,200 to $148,700. In October the average selling price was $189,116 and the median selling price was $132,250, while the number of houses sold rebounded from the 293 houses sold in September to 322 sold in October.
Read more: The Housing Market in Southwestern Michigan ? October 2014