Area Home Sales In August Set Price Records

Existing home sales are continuing their frantic pace that the Southwestern Michigan Association of Realtors says started in June. The number of homes sold has set a new record for August at 455, easily beating the 2017 record of 418 and up by 15% from last year. Homebuyers are still struggling to snag something as the inventory of homes for sale continues to shrink. It’s down 31% over the past year and stands at a 5.9 month supply with 1,285 homes. The average, median, and year-to-date selling prices continued their astonishing climb becoming the new record prices. The average sales price for the area is just over $324,000, up 35% from last August’s nearly $240,000.

Source: WSJM
Full story at: https://www.wsjm.com/2020/09/25/area-home-sales-in-august-set-price-records/