Newaygo County, Michigan - Real Estate Statistics As of June 30, 2008

June 2008 Statistics For Newaygo County, Michigan

Location:  Newaygo County is located in West Michigan approximately 40 minutes from the Shores of Lake Michigan and is situated East of Oceana County, Northeast of Muskegon County, North of Kent County, West of Montcalm & Mecosta County and South of Lake County.

Location Characteristics:  Predominately rural.  Employment centers such as Fremont, White Cloud & Newaygo.  Employment opportunities in metropolitan areas such as Grand Rapids, Muskegon, Big Rapids, Cadillac & Ludington would require a 30 to 60 minute commute.

Major Arteries:  M-37, US-10 and M-82

Terrain Characteristics:  Manistee National Forest, Over 32 Public Access Lakes, The Muskegon River, Pere Marquette River, White River and several tributaries and designated Trout Streams, several farming and recreational communities.

The following data was gathered from the West Central Association of REALTORS® Multiple Listing Service.  All information is subject to verification and no liability for omission or error is assumed.

Newaygo County Real Estate Statistics

Active Listings As Of June 30, 2008

• Residential                    578
• Multi-Family                     9
• Land                              317
• Commercial                    43

Sold Listings                June 2008        June 2007        June 2006        June 2005

• Residential                    27                     39                     40                     46
• Multi-Family                     0                       1                       0                       0
• Land                               3                       7                      10                     17
• Commercial                     0                       0                        0                       1

Median Home Price

• June 2008                     $80,000
• June 2007                     $82,400
• June 2006                     $86,000
• June 2005                     $93,078

Average Days On Market

• June 2008                     192
• June 2007                     168
• June 2006                     158
• June 2005                     176

Sold Listings From Jan. 1 through June 30      2008     2007     2006     2005

• Residential                                                  145        160        168        185
• Multi-Family                                                  1            2            3           2
• Land                                                            17          34           51         63
• Commercial                                                  3            8             4           6

Median Home Price Jan. 1 through June 30

• 2008                 $70,000
• 2007                 $85,525
• 2006                 $88,515
• 2005                 $87,550

Average Days On Market Jan. 1 through June 30

• 2008                 189
• 2007                 209
• 2006                 175
• 2005                 201

The Residential Home Sales Year-To-Date Statistics Indicate;  Residential home sales have declined significantly from record home sale statistics in 2004 and 2005, sales continue the descend with 9.4% fewer sales than in 2007, 13.7 fewer sales than in 2006 and 21.6% fewer sales than in 2005.

The Median Home Price Year-To-Date Statistics Indicate;  Home prices continue to decline with year to date statistics falling short by 18.2% over 2007 values, 20.9% over 2006 values and 20.0% over 2005 values.

Average Days on Market Statistics Indicate; The average time it takes to sell a home in Newaygo County is 5.8 to 6.9 months.

Home sale statistics for Newaygo County are adversely affected by high gas prices and a high foreclosure rate.