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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 up 20% in June of 2023 vs June of 2022 to an impressive $1,117,910.
- There were 11 sold listings in June of 2023 vs 12 in June of 2022; number of pending listings stayed the same at 11 in June of 2023 vs June of 2022; and number of new listings (13) was down 18% from 16 in June of 2022.
Holland
- Average list price was up 17.31% to $665,510, and average sale price was also up 18% in June 2023 vs June 2022.
- Number of sold listings was down 21%, number of new listings was down 43% vs June of 2022 in Holland. Active listings were also down 28% to 146.
Grand Haven / Spring Lake
- Average list price is up 44% in June 2023 vs June 2022.
- Number of active listings in Spring Lake and Grand Haven was down 9% (168) in June 2023 vs June 2022.
As summer reaches its peak, the real estate market buzzes with activity. The warm weather and longer days 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
13
New Listings
30
Active Listings
11
Under Contract
11
Closed Sales
Average Sale Price
Increased
20%
Vs June 2022
$1,117,910
Average Sales Price
2.06
Months of Supply
58
Average Days on Market
$462.32
Average Price per Square Foot
Holland
85
New Listings
146
Active Listings
75
Under Contract
80
Closed Sales
Average Sale Price
Increased
18%
Vs June 2022
$494,575
Average Sales Price
1.23
Months of Supply
23
Average Days on Market
$264.38
Average Price per Square Foot
Grand Haven / Spring Lake
89
New Listings
168
Active Listings
61
Under Contract
53
Closed Sales
Average Sale Price
Decreased
9%
Vs June 2022
$460,752
Average Sales Price
2.2
Months of Supply
33
Average Days on Market
$261.86
Average Price per Square Foot
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