Information below is residential data for the four lakeshore real estate subareas in Allegan County:
H20 - Laketown Twp, City of Holland south of 32nd St, Fillmore Twp west of M-40
H23 - Saugatuck Twp, City of Saugatuck, City of Douglas, Manlius Twp west of 58th St
H27 - Ganges Twp, Clyde Twp west of 56th St, City of Fennville south of M-89
S93 - Casco Twp
It was a slow residential sales market in Jan 2015, can’t say it any other way. The quantity of available properties decreased slightly (4%) from Jan 1 to Feb 1 in the four subareas we track. Home sales decreased as well, from a total of 29 in Dec to a total of 18 in Jan. Median sales price decreased in all four subareas. H20, which is Laketown Twp and part of Fillmore Twp, still has a hotter market than the other subareas we track with 11 properties of the available 60 selling. That means that around 18% of the inventory sold there, nearly the same as in Dec. Comparative numbers for H23 are 5 of 148 (3%), for H27 1 of 48 (2%), and for S93 1 of 35 (3%). Commonly we think of inventory in terms of years of supply, and in these last three subareas it would take somewhere between 2.5 and four years to use up this inventory at last month’s sales volumes.
We continue to see a split between the prices of what is on offer and what sold, in all four subareas, as we have in previous months. The selling prices on the homes people are willing to buy are quite a bit lower than the list prices on the homes for sale. In Jan in H20 the relationship between the median sales price and the median list price was 54%, in H23 it was 86%, in H27 it was 43%, and in S93 it was 22%. Over the last three months H23, the largest of the three markets we track in terms of listed properties, has displayed the narrowest split.
In times of low inventory like today I’m always looking for residential properties to list, and now is a good time to get onto the radar screen before the summer season. Want to know what your home is worth? My proven marketing system gets your home seen by people looking to buy. Call me at 616-836-8535 to learn more.
Comments(0)