COLDWATER, MI (WTVB) – It appears the frantic housing market has cooled a bit, based on the latest report from the Branch County Association of Realtors.
The report for May 2022 shows the number of homes on the market grew, the average selling price was down, but the homes on the market were selling faster.
The average selling price dropped by almost $19,000 from May 2021 to May 2022, with last month at $229,169. The average number of days on the market fell as well by 14 days, from 46 to 32 days to get them sold and closed.
Realtors say the market has become more normal, with the number of units for sale increasing from 66 in 2021 to 91 in 2022.
35 homes were sold in May 2022, compared to 50 in May 2021. 15 of the homes sold last month were in the $140,000 to $179,999 range, with four homes sold at over $500,000.
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