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
32 houses sold in November 2015, the same number as in November 2014. This was less than the 42 total that sold in each of the last two months, September and October. In most months median list prices are above median sold. This means that the houses that sold are less expensive than those that are on offer. This happened again this month in H20, H23 and H27, and, as in October, S93’s median sold price was above the median list price. In H20 the houses that sold were worth 43% of the median list price, in H23 it was 88%, in H27 it was 51%. In S93 the median sold price was 106% of the median list price.
The quantity of available properties decreased 4% (326 to 314) from Nov 1 to Dec 1. The median list price of homes offered for sale was exactly the same on Oct 1, Nov 1 and Dec 1 in H23. In H20 it decreased about 3% month over month, in H27 and S93 it decreased about 2%.
Inventory turnover numbers for November were: for H20 11 of 58 (19%, slower than in Oct), for H23 16 of 159 (10%, almost identical with Sept and Oct), for H27 3 of 47 (6%, slower than Oct) and for S93 2 of 62 (3%, slower than Oct). H20 commonly has a faster turnover than the other subareas. A 10% turnover, which is approximately what we have in H23, means that we have around a ten month supply of homes. Lower percentages mean we have more months of supply available, while 19% in H20 means there is an approximately five months supply of homes there.
How are sold prices performing compared to previous months? In H20, the November median sold price ($125,000) is 24% lower than the median sold price for the last 12 months ($165,313). In H23 it is about 4% higher ($287,500 compared to $276,754). In H27 the median sold price for November is almost 23% lower ($140,000 compared to $181,247). In S93, the November median sold price ($299,900) is higher than the median sold price for the last twelve months ($286,653) by about 11%.
Let’s compare November 2015 to November 2014. A year ago there were 345 homes listed for a median list price of $321,861. Today there are 314 homes listed for a median list price of $296,827. In November 2014 32 homes sold for a median sold price of $218,984, while in November 2015 32 homes sold for a median sold price of $219,781, essentially no change.
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