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If you are considering buying or selling a home in West Michigan, it is crucial to have a good understanding of the current real estate data. Knowing the market trends and statistics will empower you to make informed decisions and be better prepared for the buying or selling process. By analyzing factors such as average home prices, inventory levels, and days on market, you can gauge the level of competition, assess the value of properties, and determine an appropriate pricing strategy.
Here are a few takeaways...
Saugatuck / Douglas
- Average sale price was down 22% in July of 2023 ($552,389) vs July of 2022 ($714,471).
- There were 8 sold listings in July of 2023 vs 9 in July of 2022; number of pending listings went down 8% with 11 in July of 2023 vs 12 in July of 2022; and number of new listings stayed the same at 12 for both July 2023 and July of 2022.
Holland
- Average list price was up 11.66% to $623,576, and average sale price was up 3.85% in July 2023 vs July 2022.
- Number of sold listings was down 44%, number of new listings was down 19% vs July of 2022 in Holland. Active listings were also down 21% to 148.
Grand Haven / Spring Lake
- Average list price is up 25.51% in July 2023 vs July 2022.
- Number of active listings in Spring Lake and Grand Haven was down 17% (157) in July 2023 vs July 2022.
As summer starts to slow down with the start of school right around the corner, the real estate market continues to buzz with activity. The warm weather continues to create an ideal backdrop for buying and selling homes. However, amidst this bustling market, a persistent challenge lingers: limited inventory. The demand for homes continues to outpace the available supply, making it a competitive landscape for buyers. With fewer options to choose from, finding the perfect property becomes a greater task. Both buyers and sellers must navigate this hurdle, strategizing and acting swiftly to secure desirable homes or attract potential buyers. Despite the inventory challenge, the vibrant summer real estate market provides an exciting opportunity for those eager to make their next move.
Saugatuck / Douglas
12
New Listings
32
Active Listings
11
Under Contract
8
Closed Sales
Average Sale Price
Decreased
22%
Vs July 2022
$581,562
Average Sales Price
2.33
Months of Supply
77
Average Days on Market
$347.11
Average Price per Square Foot
Holland
83
New Listings
148
Active Listings
67
Under Contract
58
Closed Sales
Average Sale Price
Increased
3.85%
Vs July 2022
$369,523
Average Sales Price
1.42
Months of Supply
21
Average Days on Market
$254.44
Average Price per Square Foot
Grand Haven / Spring Lake
58
New Listings
157
Active Listings
42
Under Contract
49
Closed Sales
Average Sale Price
Increased
20.75%
Vs July 2022
$471,699
Average Sales Price
2.28
Months of Supply
28
Average Days on Market
$301.46
Average Price per Square Foot
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