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If you're in the midst of contemplating a home transaction in West Michigan, it's essential to grasp the current state of real estate affairs. A solid awareness of market trends and statistics will equip you with the tools to make savvy decisions and navigate your buying or selling expedition more effectively. Delving into aspects like average home prices, inventory levels, and days on the market enables you to gauge competition, ascertain property values, and craft a strategic pricing approach.
Let's dive into some crucial insights...
Saugatuck / Douglas
- Average list price was up 16.94% in October of 2023 ($1,309,377) vs October of 2022 ($1,119,672).
- There were 6 sold listings in October of 2023 down 68% from the 19 sold in October of 2022; number of pending listings went up 12% with 9 in October of 2023 vs 8 in October of 2022; and the number of new listings was down 14% with 12 in October 2023 and 14 in October of 2022.
Holland
- Average list price was up 6.42 % to $607,947, and average sale price was also up 4.76% to $402,649 in October 2023 vs October 2022.
- Number of sold listings was down 15% to 64, number of new listings was up 1% to 71 vs October of 2022 in Holland. Active listings were also up 6% to 170 from 159.
Grand Haven / Spring Lake
- Average list price is up 8.53% to $734,002 in October 2023 vs October 2022.
- Number of active listings in Spring Lake and Grand Haven was down 12% to 150 in October 2023 vs October 2022.
As autumn hues give way to the first blanket of snow, the real estate scene stays lively. The cooler temperatures create an ideal backdrop for both buying and selling homes. Yet, amid this dynamic market, a persistent issue lingers: limited inventory. The demand for homes consistently outpaces what's available, leading to a competitive landscape for buyers. With fewer options, finding the perfect property becomes a more formidable task. Navigating this challenge requires both buyers and sellers to strategize and act swiftly to secure desired homes or attract potential buyers. Despite the inventory hurdle, the fall real estate market presents an exciting opportunity for those eager to take the next step.
Saugatuck / Douglas
12
New Listings
36
Active Listings
9
Under Contract
6
Closed Sales
Average Sale Price
Increased
.75%
Vs October 2022
$725,069
Average Sales Price
3.31
Months of Supply
41
Average Days on Market
$425.89
Average Price per Square Foot
Holland
71
New Listings
170
Active Listings
58
Under Contract
64
Closed Sales
Average Sale Price
Increased
4.76%
Vs October 2022
$402,649
Average Sales Price
1.94
Months of Supply
21
Average Days on Market
$260.66
Average Price per Square Foot
Grand Haven / Spring Lake
43
New Listings
150
Active Listings
48
Under Contract
41
Closed Sales
Average Sale Price
Increased
21.03%
Vs October 2022
$469,569
Average Sales Price
2.51
Months of Supply
49.5
Average Days on Market
$261.44
Average Price per Square Foot
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