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    February Market Update

    If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the West...

    • Kersh Ruhl
    • February 15th, 2023
    • 3 min read

     

     

    If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the West Michigan market.

    Knowing the most important data such as the average sales price, number of homes sold, and days on market will better prepare you to sell your home.

    Our market report showcases everything you need to know about local real estate trends.

    Here are a few takeaways...

    Saugatuck / Douglas

    • Prices were up an average of 26% for the month vs January of 2022, and number of sales down by 50%, with number under contract up by 60% vs January of 2022.
    • At $388 a square foot average sale price, Saugatuck / Douglas remains one of the strongest markets along the lakeshore in terms of price per square foot.

    Holland

    • Average Sale price was down 12% vs January 2022.  Broken down by property type, Single family homes average sale price was down 4%, and average sale price for condos was down 40%, dragging the total average.  
    • Number of new listings in 2023 is up 44% vs 2022, and number of active properties is up 48% vs 2022.

    Grand Haven / Spring Lake

    • Average sale price was up 66% in January 2023 vs 2022, and number of sales was down 24%.
    • Active listings were up 108% in 2023 vs 2022, and average days on the market increased by 26% in 2023 vs 2022.

    It appears the market is all over the place right now, as we have one market up 66% and another down 12%.  Sales are still very steady in each market in terms of number of transactions, but we will keep our eyes on the increased inventory and how that affects the market going forward.

    Saugatuck / Douglas

    5

    New Listings

    19

    Active Listings

    8

    Under Contract

    4

    Closed Sales

     

    Average Sale Price

     Increased 

    26%

    Vs January 2022

     

    $705,500

    Average Sales Price

    1.5

    Months of Supply

    19

    Average Days on Market

    $388

    Average Price per Square Foot

     

    Holland

    92

    New Listings

    104

    Active Listings

    72

    Under Contract

    52

    Closed Sales

     

    Average Sale Price

     Decreased 

    12%

    Vs January 2022

     

    $307,139

    Average Sales Price

    1.1

    Months of Supply

    26

    Average Days on Market

    $214

    Average Price per Square Foot

    Grand Haven / Spring Lake

    36

    New Listings

    115

    Active Listings

    44

    Under Contract

    21

    Closed Sales

     

    Average Sale Price

     Increased 

    66%

    Vs January 2022

     

    $527,970

    Average Sales Price

    1.75

    Months of Supply

    62

    Average Days on Market

    $291

    Average Price per Square Foot

    Curious about what your home is worth now?

    Get an accurate home value report from our team. 

    Get Your Report

    Author Photo
    About the author

    Kersh Ruhl

    616.212.8418
    As a top producing agent, Kersh's real estate success can be attributed to his unparalleled service, incomparable business savvy, and proven sales history. Kersh's aspiration for extraordinary marketing pieces to complement his clients' discerning taste has led him home to Coldwell Banker and Global Luxury. Kersh's interest in real estate began in sunny Santa Barbara, California, where the sophistication of international architecture and tranquil beach neighborhoods blend together perfectly along the coast. His love of coastal communities has led him to the Gold Coast of West Michigan, where his affinity for the good life can be found. A strong desire for exemplary customer service began with Kersh's training at the Four Seasons Biltmore, where Kersh learned the importance of understated elegance. He applies that knowledge and experience to his business model, and believes that personalized service coupled with an impeccable eye for detail result in an experience to his clients that is like none other. It is Kersh's goal to build upon his relationships, and earn the trust and continued commitment of his clients. His comprehensive approach to every aspect of the real estate transaction affords his clients the ability to feel secure throughout the process. It is Kersh's unique perspective on the real estate market that has attributed to his remarkable achievements throughout the years.

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