Wednesday, October 28, 2009

Holland Real Estate Market Statistics

For the area North of the Holland Channel, along the Lake Michigan coastline and North lake Macatawa areas, 2009 compared to 2008 home sales from January 1st-October 19th. In 2008 there were a total of 268 homes sold in this area, with an average sale price of $224,007. In 2009 there were 275 homes sold, with an average sale price of $182,698, representing a 18% drop in average sale price year over.
It's nice to see that number of listings selling is up year to date, but that 18% drop is not an encouraging sign for sellers. It seems that short sales are having a huge impact on the market these days, as they have been becoming increasingly more en-vogue. I think the announcement of the new jobs coming to the area should temper the slide a bit, and possibly level things off for a while to come.