Home Sales and the Shifting Market

The times they are a changing..... For the Greater Kalamazoo area Pended Homes for the month of November are up 15% from last year at the same time.
What is even better is that the Sale Prices are up 18% over the same time.
If you are more interested in the Portage area specifically then you you will be glad to see that sale prices are up 7.9% and pending homes are up 45%.
 Across the board the numbers show a rise in pending homes, sale prices and avg price per square foot.
The only thing that is going down, and this is important, is the inventory. It is down 6.6% which shows that we are in the shift to a sellers market. More homes pending for higher prices with fewer homes for sale certainly means that we are in the shift right now.
Combine this with lower interest rates and MSHDA providing a first time home buyers assistance and we are all set to see prices continue to rise thru the year.
Give me a call or send me an email and I will be glad to provide you with a more detailed data report that is specific to your neighborhood.