SWMI Housing Market Remains Hot

swmirealtors-19
swmirealtors-19

The housing market in the area for the year remains hot. The Southwestern Michigan Association of Realtors says November set records in the year-over-year comparison dating back to 2006 for average and median selling prices and total dollar volume. Sales were up 4% from November 2018, with 277 homes sold last month. The year-to-date average sales price was up 3% at the end of November to a record high of $239,617 and the median price so far for the year jumped 9% over 2018 to $179,210. The median price is the price at which 50% of the homes sold were above that price, and 50% were below. For the first 11 months of the year, the total dollar volume for the region rose 3% from last year and now stands at $803.4 million.