Newaygo County, Michigan – Real Estate Statistics As Of October 31, 2007

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

October 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 to 60 minute commute.

Major Arteries:  M-37, US-10 and 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, several farming and recreational communities.

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

Newaygo County Real Estate Statistics

Active Listings As Of October 31, 2007

  • Residential                    544
  • Multi-Family                    10
  • Land                             360
  • Commercial                    37

Sold Listings                Oct. 2007          Oct. 2006          Oct. 2005

  • Residential                    23                     31                     39
  • Multi-Family                     0                       1                        0
  • Land                               9                       6                        6
  • Commercial                     1                       0                        0

Median Home Price

  • October 2007                 $88,000
  • October 2006                 $79,000
  • October 2005                 $94,000

Average Days On Market

  • October 2007                 278
  • October 2006                 195
  • October 2005                 211

Sold Listings From Jan. 1 through Oct. 31       2007     2006     2005

  • Residential                                                  273         294         354
  • Multi-Family                                                    2             4            3
  • Land                                                             62           80          96
  • Commercial                                                     9            7            9

Median Home Price Jan. 1 through Oct. 31

  • 2007                 $85,100
  • 2006                 $91,250
  • 2005                 $90,000

Average Days On Market Jan. 1 through Oct. 31

  • 2007                 206
  • 2006                 186
  • 2005                 193

The Residential Home Sales Year-To-Date Statistics Indicate - 7.1% fewer sales from 2006 statistics and 22.9% fewer sales from 2005 statistics.

The Median Home Price Year-To-Date Statistics Indicate - 6.7% price reduction from 2006 statistics and a 5.4% price reduction from 2005 statistics.

The Days on Market Year-To-Date Statistics Indicate - 20 days longer marketing time than the 2006 statistics and 13 days longer marketing time than the 2005 statistics.

 

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Kelly Pangburn

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