South Haven November 2009 Stats
The stats for November 2009 for the South Haven area and Southwestern Michigan Real Estate are brought to you by the Way And Servatius Team from Southwestern Michigan's #1 Full Service Residential Real Estate Company, Shores Real Estate.
November 2009 was an overall mixed month for real estate sales with smaller areas such as coastal resort towns like New Buffalo & South Haven seeing an increase in sales while larger areas such as Saint Joseph seeing a decrease. Almost all markets saw an increase in days a property stayed on the market, with the exception of Benton Harbor & Dowagiac. Every market area saw a decrease in average sale price with almost all but a select few seeing double digit percentage changes in average sale price. The South Haven area was one of the few that only saw a slight decline of 4% with areas such as Coloma & Watervliet seeing a 32% decrease in sales price for year to date. South Haven had a 22% increase in the Median Sales Price index for November, but the overall YTD change for all of Southwestern Michigan were decreases with 9 out of 11 areas seeing a double digit percentage decrease in median sales price for 2009.
Dollar volume for the area for November 2009 was up 43% over November 2008 which helped the YTD change to be off 20% over last year. South Haven had only a 2% decrease in YTD Dollar Volume compared to Bridgman and NewBuffalo who saw a 21% decrease. What this shows us, is that the market is still active. Buyers are taking advantage of the lower prices and the sellers are taking the loss they are receiving on the sale of a property and making that lose up with the next purchase of property.
Interest rates remain low and the $8,000 tax credit for first time home buyers and $6,500 tax credit for anyone to buy a new primary residence are generating sales. These tax credits are in place only until the coming April 2010.
Overall the sales are coming from listings that are priced to sale while the market is ignoring those listings that have become stale due to being on the market to long, as well as being overpriced. New listings priced correctly are seeing a lot of action.
The Way and Servatius Team are full time Real EstateProfessionals who service the entire shoreline of Southwestern Michigan. Dan and Ryan can be contacted daily for real estate consulting and sales at either South Haven, Saugatuck or the Douglas Shores Real Estate offices. Shores Real Estate is the area's #1 Full Service real estate & rental company servicing the area with top tier professional agents.
Best Regards,
Way And Servatius Team
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