The Following Monthly Market Report is for the month of July.
If you would like to see previous reports, please, click this link: Monthly Market Reports
The West Central Association of Realtors covers Mecosta, Newaygo, Lake & Osceola Counties.
Location Boundaries for this Report: Lake, Mecosta, Newaygo & Osceola Counties
Location Characteristics: Predominately rural, Employment centers such as Fremont, Newaygo, Big Rapids, Ludington & Cadillac. Many are employed in Grand Rapids or Muskegon with half hour to hour and a half commutes.
The following data was gathered from the South & West Michigan Regional Information Center.
These are sales of Single Family Home in Lake, Mecosta, Newaygo and Osceola Counties regardless of which Real Estate Board the listing or selling agent belonged to.
These Figures are for the month of July 2012
Number of Homes for Sale Number Sold Avg. Sale Price Days on Market Total Dollar Volume
July 2010 Unknown 103 $ 83,788 146 $ 8,630,150
July 2011 2006 112 $ 92,974 114 $ 10,392,881
July 2012 1779 100 $ 84,099 162 $ 8,409,921
Number of Homes Sold - Year to Date Figures
Through July 2010 - 673
Through July 2011 - 565
Through July 2012 - 703
Total Dollar Volume Year to Date
Through July 2010 - $ 49,175,625
Through July 2011 - $ 48,579,042
Through July 2012 - $ 66,909,580
After a year of Increased Sales, we now have a month where the sales were below the previous year - and significantly so. Almost 20% less sales volume in July of 2012 then in 2011. The number of homes sold declined by 10% and the average price of homes sold also declined by almost $8700.
July 2012 Sales were 19% Lower in dollar volume than June of 2011.
For the first 7 months of 2012, sales are still 37% ahead of 2011.
Listing numbers are up 20% since January 1st but lower by 11% that a year ago.
Average home sale price for the first 7 months of 2012 is $9196 Higher than at the same time in 2011.
Beginning with the January 2011 Report, the sales reported are for Lake, Mecosta, Newaygo, and Osceola Counties. The sales of agents from the Lakeshore MLS System, Mason - Oceana - Manistee Board, Grand Rapids Association of Realtors & The West Central Association of Realtors are all included.
"Based on information from the West Central Association of REALTORS® MLS for the period Jan. 1, 2010 through March 31, 2012. This representation is based in whole or in part on data supplied by WCAR MLS. WCAR MLS does not guarantee nor is in any way reponsible for its accuracy. Data maintained by WCAR MLS may not reflect all real estate activity in the market."
