Every 30 days, I post a brief market report that covers the reported numbers for the past 30 days.
Comparing our current year to last year helps with viewing potential trends.
2 stats of note in the current report:
- The number of listings increased by 7.16% compared to that of May 2023.
- Average days on market decreased by 6.67% compared to last year. (That is 1 day less than last year – not a meaningful change when you look at the total picture.)
- Average sales price is almost even to that of last year (down 1.10%.) We will have to see if this trend continues – so far for the year the average sales price has been higher than the year before so this is a first for 2024.
You can review the entire report here: MAY MARKET TREND REPORT
If you are interested in a great summary of the market check out my report that is updated daily:
Tracking the local market including, recently closed sales can be helpful in understanding several variables in the market.
Below is a brief summary of summary of 3 primary counties in the West Michigan Area.