Now that we have closed out another year, it is always a good idea to look at the final market numbers on the year. In comparing the medium home value in Calhoun County in 2012 ($79,948) to the medium home value in 2013 ($95,123) we see that there was approximately a 16% increase. This information was taken from the Southwest Regional Information Center Multiple Listing Service (MLS)in review of all sales in Calhoun County.
Medium home sale values are on the increase in Southwest Michigan.
In Branch County as a comparison there was a 14% improvement over the same time, however in St. Joseph County there was just a 1.5%. In Hillsdale County there was an increase of 12% in medium home values, and in Kalamazoo County there was an 8% increase. So in most of major markets in the Southwest Michigan area there was a positive home sales value increase from 2012 to 2013.
This kind of improvement opens the door for greater values from home sales for sellers, and should create a greater urgency with home buyers in 2014 to take advantage of the improving market with low interest rates.
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