Considering buying or selling property in West Michigan? Understanding the current real estate market is essential. By analyzing market trends and data, you gain the knowledge needed to make informed decisions. Assessing property values, inventory levels, and time on the market helps you understand competition, value, and pricing strategies. Ready to gain valuable insights? Let's explore the basics together!
Saugatuck / Douglas
- Average list price was up 11.63% in May of 2024 ($1,085,403) vs May of 2023 ($972,307).
- There were 12 sold listings in May of 2024 up 9% from the 11 sold in May of 2023; number of pending listings was up 25% with 10 in May of 2024 and 8 in May of 2023; and the number of new listings was up an impressive 125% with 27 in May of 2024 and 12 in May of 2023.
Holland
- Average list price was up 24.20% to $802,125, and average sale price was up 8.56% to $407,047 in May 2024 vs May 2023.
- Number of sold listings was up 11% to 89, number of new listings was up 20% to 147 vs May of 2023 in Holland. Active listings were also up 7% to 243 from 227.
Grand Haven / Spring Lake
- Average list price was up 5.72% to $839,534 in May 2024 vs May 2023.
- Number of active listings in Spring Lake and Grand Haven was up 1% to 203 in May 2024 vs May 2023 and number of sold listings was down 6% to 62.
With another school year in the books and summer adventures on the horizon, the real estate market bursts into action. However, a familiar challenge remains: limited inventory. The persistent demand continues to outstrip the supply of available homes, heightening competition among buyers. With fewer options, finding the perfect property becomes more difficult. Both buyers and sellers need to use strategic approaches to quickly secure their desired homes or attract potential buyers. Despite these inventory constraints, 2024 promises an exciting real estate market for those ready to seize the opportunity.
Saugatuck / Douglas
27
New Listings
55
Active Listings
10
Under Contract
12
Closed Sales
Average Sale Price
Increased
7.75%
Vs May 2023
$731,033
Average Sales Price
4.03
Months of Supply
47
Average Days on Market
$392.04
Average Price per Square Foot
Holland
147
New Listings
243
Active Listings
103
Under Contract
89
Closed Sales
Average Sale Price
Increased
8.56%
Vs May 2023
$407,047
Average Sales Price
1.4
Months of Supply
24
Average Days on Market
$273.87
Average Price per Square Foot
Grand Haven / Spring Lake
103
New Listings
203
Active Listings
85
Under Contract
62
Closed Sales
Average Sale Price
Decreased
14.98%
Vs May 2023
$447,813
Average Sales Price
1.96
Months of Supply
25.5
Average Days on Market
$279.48
Average Price per Square Foot
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