Average Sale Price
Home values continue to rise in West Michigan! When comparing the 4th quarter year over year, the average sale price was nearly 9% higher in 2016 than 2015.
Average Days on Market
The average time on the market was nearly 2 weeks shorter during the 4th quarter this year. Properties continued to move quickly (even through the holidays) as inventory remains low.
Months of Inventory
Inventory during the 4th quarter of 2016 was down fairly significantly. There were only enough properties on the market to last less than 3 months. Last year during this time there was over a month's worth of additional listing supply.
This is a broad look at the overall West Michigan Market.
Things may be even better where you live!
For a more precise update on your local market conditions, contact me anytime!
