November home sales in southwest Michigan were up 30% from November of last year. In its latest report, the Southwestern Michigan Association of Realtors says the regional housing market continued its historic pace that started in June when the industry opened back up after a COVID shutdown. The average selling price was $344,000 in November, a 48% jump from November of last year. The median selling price was up to $220,000, an increase of 26% from the previous year. For all of 2020, home sales are up 6%. The realtors association says that number’s been held back due to the earlier shutdown. From June to September, the number of bank-owned, or foreclosed homes, as a percentage of all transactions held steady at 1%. In October and November, the figure was 2%. In the early months of the year, January to May, the range was 5% to 7%.
Full story at: https://www.wsjm.com/2021/01/03/swm-real-estate-market-remained-strong-in-november/