Real Estate Market Still Churning
With Frosty Nights Coming Soon
 
 

West Michigan's real estate market is tapering off a bit as the holiday season approaches. Time-on-market is growing a little longer for sellers, and buyers are having more choices as inventory starts to increase. Overall, it's still a solid seller's market under $450,000 and a buyer's market above that price-point. Consider these year-to-date numbers:

* Sold prices are up 8.0% to an average of $184,518.
* Closed sales are up 3.5% over last year, while current listings are down -4.5% compared to 2015.
* Overall inventory still is at a record low of just a 1.6 month supply.
* Homes sold over $500,000 (231 of them) account for just 2.5% of the 9,253 homes sold YTD on our MLS.

Planning on selling? Call us at 575-0140 or 437-0209 to book a pre-listing consultation. We'll help you get your home ready for market and project your closing costs and net proceeds.



Bob & Lisa Novosad
616-575-0140

Now that we're in the homestretch of 2016 (really, we are!), consumers are starting to plan for 2017, especially if they want to buy or sell a home. We regularly ask our clients about their home-buying or selling journey, what motivates them and what's holding them back. This time of year, the pool of prospective sellers shifts toward those who are just starting their research but expect to sell in the spring.
Sparkling new quartz countertops, polished hardwood floors, stainless steel kitchen appliances. Aren't your buyers lucky? But when sellers are flippers, a good buyer's agent should help clients engage in some old-fashioned sleuthing.

Before the Great Recession of 2008, housing prices climbed dramatically, and homes sold faster than buyers could gush, "I love that spa bathroom." Contractors and even handy DIYers got in on the uptick by buying fixer-uppers and improving them in the quickest ways possible, selling them, and reaping the profits. Enter the real estate phenomenon of flipping.


Fall is a great time to canoe Michigan rivers. Air temperatures are cool. The bugs are gone. And northern woods are typically ablaze with color.

But fall weather can be fickle, so paddlers need to be ready. It can be sunny one hour and cloudy the next. Seasonal winds bring cold air in from the north and cool temperatures can result in a chill.

Our Featured Property
7904 Autumn Woods Dr SE - Ada, MI 49546

Sharp, custom built Ben Brinks home in one of Forest Hills' most desirable neighborhoods offers an ideal floor plan for both entertaining and family living. Many recent improvements including gorgeous kitchen with quartz counters, high-end appliances and refinished hardwood floors. Stunning 2-story family room with full masonry fireplace and floor-to-ceiling windows. Large eating area with sliders to deck overlook the private backyard. Handsome main floor office with rich built-ins. Upstairs features a large owner's suite with his and her closets, plus 3 additional spacious bedrooms and 2 full baths. Cedar closet and rec room in the daylight lower level with plenty of space for future expansion. Additional updates include new carpet, landscaping, furnace (2013) A/C (2016) plus interior and exterior paint. Located in popular Jonathan Woods with sidewalks, city water/sewer and access to Cascade/Ada bike paths.


What to Do This Weekend

We are a proud member of HelloWestMichigan, offering residential relocation services. This organization
serves as an advocate for talent and provides downstream support to transferees, as well as their families, as they settle into their new lives in West Michigan.  Be sure to check out our HWM  profile and let anyone who is looking to move to the area know about all the resources available on this website.

Thanks for letting us share these market updates with you. We look forward to maintaining your trust and confidence in our team and earning your future referrals.