Spring Market Trend Rolls into Summer

Greetings! Summer is almost here and West Michigan's real estate market is showing no sign of slowing down. Here is a snap-shot on activity year-to-date:
  • Closed sales are running 15.5% ahead of last year (wow!), while current listings are down 1.5% compared to 2015.
  • Sales prices are up 11.8% so far in 2016 to an average of $187,018 - continuing the trend for another solid year.
  • With the onset of good weather, inventory levels have risen slightly. However, contracts are being written faster than new listings, keeping the 1.6 month inventory supply at an all-time record low.
  • Buyers continue to scramble to find a home to purchase, often facing multiple-offer scenarios on well-priced homes in good condition.
  • For homes $450K and above, inventory is not so thin with a 4-6 month back-log, requiring sellers to be strategic and priced aggressively upon entering the market.
  • Short sales and foreclosures are just 3.2% of the market by units sold or pending.
Planning to sell?  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

Housing Inventory: 2002 to 2016
When the schooner Inland Seas slips her berth at Suttons Bay on June 24, her captain, crew and passengers will share in a voyage of discovery-a two-hour educational journey under sail to learn about microplastics, an emerging environmental problem that ills the Great Lakes.

The two-year-old program, called "Exploring Microplastics," is offered by the  Inland Seas Education Association (ISEA), a nonprofit that teaches Great Lakes science aboard the 61-foot schooner. Its passengers will examine what crew members find while conducting a fine-mesh trawl for plankton. They will learn how tiny plastic particles enter the food chain and a lot more about how microplastics foul Great Lakes waters.

Our Featured Property
2561 Cascade Springs Drive

Turn of the century Cascade property with over 5400 sq/ft of living space on 100' of prime Thornapple River frontage. Built in 1920 on a historic section of Cascade Springs where Grand Rapids elite had their summer cottages, this impressive home has been beautifully renovated with today's comforts while preserving its period character and charm. Stunning gourmet kitchen with ceiling-height white shaker cabinets, farm sink, over-sized granite island and custom walk-in pantry. Cozy dining area is warmed by a stacked-stone fireplace. Grand living room with another fireplace and a massive wall of windows overlooking the grounds.

Have You Heard About 'The Right Place'?
A growing economy, outstanding health care, low cost of living, award-winning schools, and diverse cultural options are just a few reasons why people choose West Michigan. Our region has a vibrant, big-city feel in Grand Rapids while retaining smaller-city charm in its neighborhoods, boutique shopping areas, and tree-lined streets-all combined in a virtual playground of arts, culture and natural beauty.

What to Do This Weekend
We now are a proud member of HelloWestMichiganoffering 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.