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
We have continuing evidence of a tight market, with 243 homes available today in these four subareas. We had 236 a month ago, which was the smallest quantity available in the sixteen months we have been doing this month-end snapshot. The quantity of available properties thus increased 3% from Feb 1 to Mar 1. The median list price of homes offered for sale in all four areas increased month over month, 54% in H20, 4.3% in H23, 26.9% in H27, and 18.6% in S-3.
29 houses sold in February 2016, which was a rather good month, with more sales than the 21 that sold last month. A year ago, 20 houses sold in February 2015. In most months median list prices are above median sold prices. This means that the houses that sold are less expensive than those that are on offer. This happened in all subareas. In H20 the houses that sold were worth 35% of list, in H23 it was around 89%, in H27 it was around 15% (but only two houses sold), and in S93 it was around 27%. Only two homes sold in H27. H23 usually has enough volume to make analyses statistically useful, but other subareas often do not.
Inventory turnover numbers for last month were: for H20 7 of 44 (around 16% - H20 has a faster turnover than the other subareas), for H23 15 of 126 (around 12%), for H27 2 of 30 (around 7%) and for S93 5 of 36 (14%). This was a very good volume month for S93. A 16% turnover, which is approximately what we have in H20, means that we have around a 6 1/4 month supply of homes at the current sales rate. Lower percentages mean we have more months of supply available. Winter months in general have fewer sales, so this turnover calculation is affected by that seasonality.
How do last month’s sold prices compare to previous months? In H20, last month’s median sold price ($134,700) was 18.5% lower than the median sold price for the last 12 months ($165,250). H23’s median sold price was 11% higher last month than the median sold price over the last 12 months ($301,000 and $270,475). H27 had only two houses sold, as we have noted, and last month’s median sold price ($53,500) was around 70% lower than the median sold price over the last twelve months ($180,000). S93’s median sold price for last month was $110,725, which was around 60% of the median sold price over the last twelve months ($275,000).
Let’s compare last month to February 2015. A year ago there were 284 homes listed, at a median list price of $322,400. Today there are 243 homes listed, at a median list price of $345,000. There is less inventory, and list prices are higher. In February 2015 20 homes sold with a median price of $184,000, while in February 2016 29 homes sold with a median price of $190,000.
I’m always looking for residential properties to list. Inventory of existing homes is low, and now is a good time to get your home on the market if you would like it to be seen by out of town buyers looking for a place for the summer. I have both locals, and second-home people among my buyers and sellers. My experience and knowledge can help you reach your goal whether you want to sell your house, or you are looking to buy another. I strive to provide quality service. I believe in advising my clients on what is best for them. Want to learn more about what your home is worth? Call me at 616-836-8535 for a no-obligation comparison to recent sales. I can also tell you how my proven marketing system can get your home seen by people looking to buy. A seller who understands the market is my best asset in getting a home sold. Call me if you’d like to learn more. 
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