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America in the Morning

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Posted: Tuesday, 25 February 2014 11:40AM

SWMI January Home Sales Off To Positive Start For 2014

January may have been one of the coldest months in a long time, but it did not put a chill on the Southwest Michigan housing market. Gary Walter with Southwestern Michigan Association of REALTORS says January home sales and total dollar volume fell in third place just behind those numbers recorded in 2006 and 2007, which were the peak years for our market. 164 houses were sold in January, a 6% rise over the number sold a year prior. And the total dollar volume beat January 2013 by 19%. The average selling price of roughly $184,000 was the highest recorded in the month of January since 2005. Nationally, existing-home sales fell in January to the lowest level in a year-and-a-half, but ongoing inventory shortages continue to lift prices in much of the U.S.The numbers reported for local sales include residential property in Berrien, and the western half of Van Buren and Cass counties.

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