Area Home Sales Emerge From January’s Deep Freeze With Strong February

The area’s housing market is beginning to thaw out after a snowy and slow January. The Southwestern Michigan Association of Realtors says existing home sales in February were up 34% from January with 235 homes sold. It was also the most active February, with the most sales for that month going back to 2006. The average sales price rose a modest 1% year-over-year to $199,433, while the median price was up 5% to $140,000. That’s the price at which 50% of home were sold above and below. Association Executive Alan Jeffries says inventory in Berrien, Cass and Van Buren counties was down 6% from a year ago, and the market has just four-point-eight months supply of homes for buyers. The area had just 1229 homes on the market compared to 1313 a year ago and almost 31-hundred a decade back in February 2009.