Considering buying or selling property in West Michigan? Grasping the current real estate market is essential. By examining trends and data, you can make well-informed decisions. Evaluating property values, inventory levels, and market time gives you a clearer picture of competition, value, and pricing strategies. Ready to gain some valuable insights? Let’s dive into the fundamentals together!
Saugatuck / Douglas
- Average list price was up 24.03% in July of 2024 ($1,245,466) vs July of 2023 ($1,004,183).
- There were 7 sold listings in July of 2024 down 30% from the 10 sold in July of 2023; number of pending listings was up 6% with 17 in July of 2024 and 16 in July of 2023; and the number of new listings was up 25% with 20 in July of 2024 and 16 in July of 2023.
Holland
- Average list price was up 28.39% to $829,640, and average sale price was up 6.31% to $395,900 in July 2024 vs July 2023.
- Number of sold listings was up 59% to 118, number of new listings was up 6% to 115 vs July of 2023 in Holland. Active listings were also up 13% to 254 from 224.
Grand Haven / Spring Lake
- Average list price was up 10.64% to $862,451 in July 2024 vs July 2023.
- Number of active listings in Spring Lake and Grand Haven was up 4% to 231 in July 2024 vs July 2023 and number of sold listings was down 3% to 72.
As summer vacation wraps up and the new school year approaches, the real estate market is still buzzing with activity. Yet, a familiar challenge persists: limited inventory. Demand continues to outpace the supply of available homes, leading to increased competition among buyers. With fewer options, finding the ideal property has become more challenging. Both buyers and sellers need to adopt strategic approaches to quickly secure their dream homes or attract potential buyers. Despite these inventory constraints, 2024 is proving to be an exciting year in real estate for those ready to seize the opportunity.
Saugatuck / Douglas
20
New Listings
68
Active Listings
17
Under Contract
7
Closed Sales
Average Sale Price
Increased
110.51%
Vs July 2023
$1,176,000
Average Sales Price
5.46
Months of Supply
84
Average Days on Market
$536.83
Average Price per Square Foot
Holland
115
New Listings
254
Active Listings
107
Under Contract
118
Closed Sales
Average Sale Price
Increased
6.31%
Vs July 2023
$395,900
Average Sales Price
1.75
Months of Supply
16
Average Days on Market
$261.38
Average Price per Square Foot
Grand Haven / Spring Lake
101
New Listings
231
Active Listings
75
Under Contract
72
Closed Sales
Average Sale Price
Increased
8.51%
Vs July 2023
$507,556
Average Sales Price
2.45
Months of Supply
37
Average Days on Market
$293.98
Average Price per Square Foot
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