Saugatuck Real Estate for Saugatuck, Douglas, and Saugatuck Township has remained pretty constant year to date in 2011 as compared to the same time period in 2010.
Jan 1 through Oct 1, 2010 saw 87 residential units (single family and condos) sold for a total sale price of $20,879,837 and a median price of $200,000. Properties sold at 89% to 98% of asking price
Jan 2 through Oct 1, 2011 saw 85 residential units (single family and condos) sold for a total sale price of $22,372,059 and a median price of $229,000 with the sellers realizing 90% to 95% of their asking price.
It appears that the sale price of individual units is up slightly and the percentage of sale price to asking price has stabilized between 90% to 95% as opposed to the wider swing in this percentage in 2010. Numbers of buyers is remaining constant.
It is still a buyer's market but prices are creeping up slightly. Lesson to be learned: BUY NOW WHILE PRICES ARE STILL WELL BELOW REPLACEMENT COSTS AND INTEREST RATES CONTINUE TO BE FAVORABLE.
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