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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 25% vs October of 2021, but that included a $2.1mm sale, so the median sale price ended up being 10% higher than October 2021.
- Number of sales was 22 in October of 2022, which is exactly the same number of October 2021...so much for a market slowdown in Saugatuck / Douglas
Holland
- Number of sold listings was down 22% vs October 2021, and pending listings were also down 33% in October 2022 vs 2021.
- Sold to list ratio was 97% in October 2021, which continues to drop giving buyers more negotiating power.
Grand Haven / Spring Lake
- Number of homes under contract was down 18% and number sold was down 26% vs October 2021.
- New listings in Grand Haven/ Spring Lake were down 19 units, or 24% in October 2022 vs 2021
Another month of average prices increasing and slipping number of sales in the markets as a whole. I anticipate there will hit a spot of equilibrium in 2023 as interest rates seem to be playing a factor, and buyers seem to be sitting and waiting for home prices to decrease-- which they are not showing signs of doing, with positive gains across the board. With our access to fresh water and resort-like amenities up and down the coast, we still remain a relative bargain compared to other areas across the country with such a wonderful quality of life.
Saugatuck / Douglas
19
New Listings
25
Active Listings
13
Under Contract
22
Closed Sales
Average Sale Price
Increased
25%
Vs October 2021
$719,652
Average Sales Price
2
Months of Supply
46
Average Days on Market
$436
Average Price per Square Foot
Holland
88
New Listings
131
Active Listings
69
Under Contract
95
Closed Sales
Average Sale Price
Increased
12%
Vs October 2021
$383,511
Average Sales Price
1.3
Months of Supply
23
Average Days on Market
$243
Average Price per Square Foot
Grand Haven / Spring Lake
61
New Listings
147
Active Listings
64
Under Contract
74
Closed Sales
Average Sale Price
Increased
7%
Vs October 2021
$386,073
Average Sales Price
2.2
Months of Supply
33
Average Days on Market
$251
Average Price per Square Foot
Curious about what your home is worth now?
Get an accurate home value report from our team.
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