The condo market in the Hudsonville School District changes widely from month to month. As is usual, the inventory was up thisApril and will begin to decline as the spring and summer progress. In a comparison of condos for sale in March of 2011 there were 38 units for sale while this March there were 20 units for sale.
For the sales that took place and actually closed the following information may be helpful to you:
Ave. Days On Market: March 2011 Sales: 89 March 2012 Sales: 30
Ave. List Price March 2011 Sales: $125,000 March 2012 Sales: $125,000
Ave. Sale Price March 2011 Sales: $106,000 March 2012 Sales: $105,000
Sold/List Price % March 2011 Sales: 94% March 2012 Sales: 88%
These figures point to a more active market in that our average days on the market have decreased rather significantly and properties that are priced appropriately and show well are selling. While market time has decreased, the list prices and sale prices on average have remained stable. This would indicate that we are no longer seeing a decreasing of property values but rather a stabilization.
Having said all of this, it is important to note that each condo neighborhood is different and the supply and demand varies within each one. An informed real estate professional should be able to give you timely and helpful information for your situation whether it is for buying or selling.