What’s Happening With West Central Michigan Real Estate?

Here’s a quick look at what’s going on in our west central Michigan real estate market.

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What is the market doing in west central Michigan?

To start, zipcode 49336, which is the little town of Morely, currently has about a six-month supply of inventory. Inventory is staying pretty steady currently, but we have seen a change of about 27% from last year.

The average days on the market has actually decreased from 50 to 38, so if you’re looking to buy, now is the time to do it.

In the area of west central Michigan, home prices have increased by 12%. This is mainly due to the fact that there is low inventory. In fact, inventory is actually down 20%.

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If you are thinking about buying,
right now is a great time.

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However, prices are still manageable and interest rates are still low, so now is still a great time to buy.

If you have any questions about the market or any other real estate-related questions, please feel free to give me a call or send me an email. I’m always happy to help.

The 2015 West Central Michigan Real Estate Market vs. The 2014 Market

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Many of my clients have been asking, "How does the current market compare to last year?"

• In September of 2014, we sold 156 listings. This year, we sold 154 listings, which is a slight decrease of 1.3 percent from last year.

• Last year, the average sales price was $86,575. This year we saw a 2.2 percent increase with the average sales price of $88,500.

• In 2014, the number of new listings in September was 234, and this year we saw a 12 percent decrease and 206 new listings in September.

• The average list price increased from $87,450 in 2014 to $114,700 in September of 2015.

There are slight differences in today's market compared to last year. If you have any questions for me, please give me a call or send me an email. I would be happy to help you!