Existing Homes Sales In SWMI Soar In December

swmirealtors

Sales of existing homes in Michigan’s Great Southwest were red hot in 2015. According to the Southwestern Michigan Association of Realtors, the number of homes sold, total dollar volume, and selling prices were all up by double-digits in December compared to 2014. As for the full year, existing home sales in Berrien and the western parts of Cass and Van Buren counties were up by 10%. Association executive vice president Gary Walter notes the only negative in the latest report is the inventory of homes for sale continued to fall throughout 2015. There were 252 houses that sold last month compared to 229 in December 2014, making it the best December for sales in 10 years. The average selling price last month hit a 10-year high for December at $206,579 and was up over $30,000 from 2014. Those prices were also up by 11% from November. The median selling price for the month, at which half of the homes sold were above and half were below, came in at $130,000, a 12% jump over a year ago.