Market Update Jenison 6/15
Inventory, or the lack of it seems to be repeating itself like a broker record across communities in West Michigan. Jenison, MI is no exception. Jenison in GeorgetownTownship continues to be a hot market for sellers and when we look at the data for the last two years, a pattern begins to emerge. In May of 2013, new listings gradually decreased until they hit a low point of just 14 new listings in February of 2014. In fact, listing inventory for then entire calendar year of 2015 has barely passed 2 months worth of inventory. Amazing stuff!
Average Listing prices have benefited from the diminished supply with the last two months sporting prices on average between $170,000 – $190,000. It will be interesting to watch if this trend continues throughout the year as the past two years have sometimes seen averages plunge below the $150,000 mark. But at least for right now, if you’re thinking of selling a home in Jenison – now is a good time to consider placing your home on the market.
Near the end of May 2014, inventory spiked, and then dropped again, finally hitting a low point in November 2014. New listings are climbing again at this writing so we will be watching to see if they drop off again in July 2015. The pattern appears when we compare new listings to the number of sold listings over the same period. Whenever inventory spikes, the number of listings sold goes up within a month. Whether the inventory will continue to climb or level off this summer remains to be seen, but one thing seems certain, when Jenison is ready to sell, the buyers will be there!