The housing market continues to improve in Southwest Michigan, with the number of sales and the prices of homes both up in February. Southwest Michigan Association of Realtors executive vice president Gary Walter says the number of houses sold and closed last month rose by 5% over 2012, with the average sales price rising 7%. He says the numbers are giving realtors hope that 2013 will "meet or exceed the market's performance in 2012." Walter says the market has recovered in some aspects from the housing market collapse with the number of homes and total dollar value being back to near-peak levels from 2006 and 2007. At the same time, average and median sales prices are still "well below prices experienced in February 2006." The year-to-date median sales price in the area is $97,000, up from just under $83,000 a year ago. The median price is the price at which half of the homes sold are above that number, and half are below.
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