Information below is residential data for the four lakeshore real estate subareas in Allegan County, Michigan:
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
The information presented here is as recorded in our local MLS, SWMRIC. Inventory of homes for sale increased by one unit this month, with 210 homes available February 1st in these four subareas. There were 209 available a month ago. The highs and lows of available inventory in the last two years were a high of 388 on August 1, 2015, and the low was 209 on January 1, 2017. A year ago on Feb 1, 2016 the available inventory was 243. The quantity of available properties decreased a tiny fraction from Jan 1 to Feb 1. We are in a low inventory situation, in this area and nationally as well, so we’ve read. We generally have a seasonal low in inventory in the slow winter months. But if you think you are seeing fewer for sale signs around here, you are right. Two years ago at this time of year there were 279 homes listed, and we only see about 75% of that number listed today. The median list price of homes offered for sale was up about 12% month to month in H20, was even with last month in H23, was down 13% in H27, and was down 7% in S93.
19 homes sold last month. 29 sold the month before. A year ago, 21 residential properties sold in Jan 2016. January is, not surprisingly, generally the month of the year with the lowest sales volume. In most months median list prices are above median sold prices. This means that those that sold are less expensive than those that are on offer. You can see this on the graph, where the blue lines (sold) are mostly below the red lines (list). Last month median sold prices were lower than median list prices in all subareas. In H20 those that sold were worth about 79% of list, in H23 it was 70%, in H27 it was 24%, and in S93 it was 34%. Low sales volumes in the last two subareas make this indicator less meaningful.
Inventory turnover numbers for last month were: for H20 8 of 38 (21%), for H23 6 of 110 (5.5%), for H27 2 of 21 (9.5%) and for S93 3 of 40 (7.5%). H20 usually has a faster turnover than the other subareas. A 21% turnover like we have in H20, means that we have about a 5 month supply of homes at the current sales rate. Lower percentages mean we have more months of supply available.
How do January’s sold prices compare to previous months? In H20, last month’s median sold price ($264,950) was higher than the median sold price for the last twelve months by about 33% ($176,900). H23’s median sold price ($260,000) was lower by about 11% than the median sold price over the last twelve months ($287,950). H27’s median sold price ($89,500) was lower, by about 83%, than the median sold price over the last twelve months ($163,700), but only two units sold there last month. S93’s median sold price for last month was $176,000, lower by about 8%, than the median sold price over the last twelve months ($190,000). Aggregating all four subareas, last month’s median sold price equal to the median of the last twelve months ($230,000).
Let’s compare today’s statistics to those of a year ago. A year ago there were 236 homes listed, at a median list price of $322,325. Today there are 210 homes listed at a median list price of $369,475. In Jan 2017 19 homes sold at a median price of $230,000 while in Jan 2016 21 homes sold at a median price of $259,000.
What time is right for you to sell? The time you want to sell, of course. Call me at 616-836-8535 when you want to bring your property to market. I work with both area residents and second-home people. My experience and knowledge can help you reach your goal whether you want to sell your house, or you are looking to buy one. I strive to provide quality service and I believe in advising my clients on what is best for them. Want to learn more about what your home is worth? Call me for a no-obligation comparison to recent sales. Your home will be marketed so it will be seen by people looking to buy, on my website mysaugatuck.com, and on a range of other widely used real estate sites on the internet. I know that a seller who understands the market has an advantage over one who doesn’t. Call me if you’d like to learn more about the market for your property. 
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