Jan 2017 Market Updates

February 24, 2017

The real estate market in West Michigan is an extremely strong sellers market. The number of closed sales in January is up by 3% and increased volume by 12%. We are still experiencing a significant shortage of homes for sale on the market. Currently, there is 1.6 months of available properties. The preferred number is 5 to 6 months of inventory, which is the sweet spot that provides a good balance between a seller’s market and a buyer’s market. The average sales price in Kent County year-to-date is $190,978.

Find detailed stats here.

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