Neither the onset of wintry weather nor a modest uptick in the mortgage rate managed to dampen the housing market in Michigan’s Great Southwest when the calendar rolled ahead to 2025. In fact, Luke Jeffries, new Association Exec for the Southwestern Michigan Association of Realtors reports, “For the second consecutive year, the number of houses sold in January was higher than the same month in the previous year,” noting, “The year started with an elevated inventory and record selling prices, despite that modest increase in the mortgage rate.”
Jeffries reports that last month, January of 2025, the market ended with an inventory of 715 houses for sale, up from 569 houses for sale a year earlier in January of 2024. Homebuyers in Allegan, Berrien, Cass, and the westerly 2/3rds of Van Buren counties are now looking at a 4.3-months supply of homes, up slightly from the 3.6 supply level available to them in January of 2024.
The Freddie Mac mortgage rate in January was 6.95…up slightly from the December rate of 6.85…and also up from the 6.63 rate in January a year ago for 30-year conventional mortgages.
Jeffries reports that the number of homes sold in January of 2025 increased by 9-percent above the number sold in January of 2024. As a result, 173 homes were sold last month, as compared to the 159 sold in the same month last year.
Meanwhile, the average selling price in January of 2025 soared by 32-percent to $416,393 from the average of $315,077 seen in January of 2024. Additionally, the January 2025 average selling price was 13-percent higher than the $369,739 price set a month earlier in December of 2024.
The January 2025 median selling price jumped by 11-percent to$267,000 as compared to a median price of $240,000 a year earlier, while the median selling price in December of 2024 was marked at $259,990. The median price is the price at which 50% of the homes sold were above that price and 50% were below.
The total dollar volume established thanks to the additional sales grew by 44-percent to $72,036,007 from the $50,088,245 total dollar volume collected in January of 2024.
There were just two bank-owned or foreclosed homes as a percentage of all transactions in January, or 1-percent of the closed transactions. The highest percentage in a January was 57-percent set in 2009.
Jeffries reports that the data in his report reflects home sales across Allegan, Berrien, Cass, and the westerly 2/3rds of Van Buren counties and should not be used to determine the market value of any individual property. Instead, he suggests, “If you want to know the market value of your property, please contact your local Realtor.”
Jeffries continues his association’s timely advice for both sellers and buyers in the Southwest Michigan housing market.
When Selling a Home…
When it comes to selling a home, first impressions are everything. Home staging is a powerful tool that can transform your property, making it more appealing to potential buyers and helping it to stand out in a competitive market. Professional stagers know what décor to use, how to declutter, and will set the ambiance that can significantly influence buyers’ perceptions and increase the chances of a quick sale.
- Declutter and depersonalize
The goal is to neutralize the home’s environment so that the buyer can envision themselves living there. Clear out unnecessary items to make spaces look large and more inviting.
- Highlight Key Features
Whether it is the cozy fireplace, large windows looking out over a ravine lot, or hardwood floors. Make sure these features are showcased. Arrange furniture to draw attention and ensure they are clean and in good condition.
- Create a Cozy Atmosphere
Add elements that make the space feel cozy and lived-in. Use throw blankets, pillows, and neutral artwork to add warmth. Use candles or air fresheners in limited amounts to make your place smell clean.
- Balance Space and Furniture
Avoid overcrowding with too much or big pieces of furniture. The layout should make the rooms look functional but not cramped.
- Showcase your home with lighting
Open curtains and blinds to let natural light in. Ensure that rooms are well-lit. Use a mixture of ambient, task, and accent lighting to create a warm ambiance.
When Buying a Home…
Browsing for homes online is so fun and easy and it is exciting to look at wonderful photos of elegantly decorated rooms, perfect landscaping, and backyard kitchens. However — browser beware — those listings may be seductive, but they might not give you the complete picture. You should start with realtor.com which pulls information every 15 minutes from Multiple Listings Service (MLS) regional databases where real estate agents post listings for sale. Sites like Zillow and Trulia update less often.
For example, each realtor.com listing, has a “Property Details” section that may specify important information such as the year the home was built, price per square foot, and how many days the property has been on the market. Ultimately though, ask your Realtor to help you interpret what you find. The best Realtors have hyper-local knowledge of the market and may even know details and histories of some properties. If a listing seems too good to be true, your Realtor will know why.
To view properties that are for sale in the local area, go to www.swmar.com and click on “Search.” The Southwestern Michigan Association of Realtors, Inc. is a professional trade association for real estate professionals who are members of the National Association of Realtors, and ancillary service providers for the real estate industry in Allegan, Berrien, Cass, and Van Buren Counties. The Association can be contacted at 269-983-6375 or online through their website at www.swmar.com.
