Newaygo County, Michigan - Real Estate Statistics As Of August 31, 2007

By
Real Estate Broker/Owner with Pangburn Properties, Inc.

August 2007 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 minute to 60 minute commute. 

Major Arteries:  M-37, US-10 & 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.

The following data was gathered from the West Central Association of Realtors Multiple Listing Service.

Newaygo County Real Estate Statistics

Active Listings As Of August 31, 2007

  • Residential               646
  • Multi-Family                12
  • Land                        380
  • Commercial                39

Sold Listings                                                                    August 2007          August 2006          August 2005

  • Residential                                                   29                      29                      53
  • Multi-Family                                                   0                        0                        0
  • Land                                                             6                        9                        4 
  • Commercial                                                   0                        0                         1 

Sold Listings From January 1 through August 31          2007                         2006                          2005

  • Residential                                                   222                     226                     282
  • Multi-Family                                                    2                        3                         3
  • Land                                                             44                       67                       75
  • Commercial                                                    8                         5                        5 

Median Home Price

  • August 2007                $74,000
  • August 2006                $98,000
  • August 2005                $92,500

Median Home Price January 1 through August 31

  • 2007                           $84,550
  • 2006                           $89,950
  • 2005                           $91,750

Average Days On Market

  • August 2007                    112
  • August 2006                      95
  • August 2005                      96

Average Days On Market January 1 through August 31

  • 2007                               144
  • 2006                               126
  • 2005                               129

The Residential Home Sales Year-To-Date Statistics Indicate - 2% fewer sales from 2006 statistics and 21% fewer sales from 2005 statistics. 

The Median Home Price Year-To-Date Statistics Indicate - 6% price reduction from 2006 statistics and 8% price reduction from 2005 statistics.

The Days on Market Year-To-Date Statistics Indicate - 12.5% longer marketing time than the 2006 statistics and 10.4% longer marketing time than the 2005 statistics. 

 

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Kelly Pangburn

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