Thinking about buying or selling property in West Michigan? Understanding the real estate market is key to making informed choices. By analyzing trends and data, you can assess property values, inventory, and market timing, giving you a clearer view of competition and pricing strategies. Want to gain some valuable insights? Let’s explore the essentials together!
Saugatuck / Douglas
- Average list price was down 17.73% in August of 2024 ($1,172,055) vs August of 2023 ($1,424,713).
- There were 15 sold listings in August of 2024 up 67% from the 9 sold in August of 2023; number of pending listings was up 58% with 19 in August of 2024 and 12 in August of 2023; and the number of new listings was up 30% with 26 in August of 2024 and 20 in August of 2023.
Holland
- Average list price was up 34.04% to $830,661, and average sale price was up 11.82% to $488,816 in August 2024 vs August 2023.
- Number of sold listings was down 2% to 93, number of new listings was up 32% to 146 vs August of 2023 in Holland. Active listings were also up 18% to 281 from 239.
Grand Haven / Spring Lake
- Average list price was up 15.82% to $820,903 in August 2024 vs August 2023.
- Number of active listings in Spring Lake and Grand Haven was down 6% to 222 in August 2024 vs August 2023 and number of sold listings was down 7% to 68.
As the days grow shorter and the air turns crisp, the real estate market remains vibrant. However, a familiar challenge persists: limited inventory. Demand continues to exceed the supply of available homes, creating increased competition among buyers. With fewer choices, finding the perfect property has become more difficult. Both buyers and sellers must take strategic steps to secure dream homes quickly or attract serious offers. Despite these inventory challenges, 2024 has been an exciting year in real estate for those ready to seize the opportunity.
Saugatuck / Douglas
26
New Listings
73
Active Listings
19
Under Contract
15
Closed Sales
Average Sale Price
Increased
51.55%
Vs August 2023
$951,667
Average Sales Price
5.17
Months of Supply
34
Average Days on Market
$524.73
Average Price per Square Foot
Holland
146
New Listings
281
Active Listings
111
Under Contract
93
Closed Sales
Average Sale Price
Increased
11.82%
Vs August 2023
$488,816
Average Sales Price
1.86
Months of Supply
23
Average Days on Market
$277.31
Average Price per Square Foot
Grand Haven / Spring Lake
83
New Listings
222
Active Listings
76
Under Contract
68
Closed Sales
Average Sale Price
Increased
4.12%
Vs August 2023
$451,914
Average Sales Price
2.59
Months of Supply
32
Average Days on Market
$291.24
Average Price per Square Foot
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