OTTAWA COUNTY – Newly released data from Realtor.com for August shows potential buyers and sellers in Ottawa County saw lower home sales prices than the previous month’s median of $375,000.
The average home sold for $364,900, an analysis of data from Realtor.com shows. This means that August, the most recent month for which figures are available, was 2.7% lower than July.
Compared to August 2023, the median home sales price was 6.8% higher at $341,800.
Realtor.com pulls sales data from real estate deeds, resulting in a lag of a few months in the data. The statistics do not include homes currently for sale and are not directly comparable to listing data.
Information about your local housing market, along with other useful community data, is available at data.hollandsentinel.com.
Here you will find an overview of the average sales prices:
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Looking only at single-family homes, the $380,000 median sales price in Ottawa County in August was down 1.4% from $385,252 the month before. Since August 2023, single-family home sales prices have increased 11.1% from an average of $342,000. Six single-family homes sold for $1 million or more during the month, compared to two recorded transactions of at least $1 million in August 2023.
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Condominiums and townhomes fell 8.7% in sales price in August to an average of $308,500, compared to $337,716 in July. Compared to August 2023, the sales price of apartments and townhomes was down 6.6% from $330,426. Two condos or townhomes sold for $1 million or more during the month, compared to four recorded transactions of at least $1 million in August 2023.
In August, the number of recorded sales in Ottawa County increased 2.8% since August 2023 – from 353 to 363. All residential sales totaled $146.5 million.
Across Michigan, homes sold for a median value of $251,367 in August, down 3.3% from $259,991 in July. There were 10,857 recorded sales across the state in August, down 18.4% from the 13,306 recorded sales in August 2023.
Here’s a look at the full state:
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The total value of recorded home sales in Michigan fell 8.6%, from $3.7 billion in July to $3.3 billion in August.
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Of all home sales in Michigan, 1.67% of homes sold for at least $1 million in August, up from 1.1% in August 2023.
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Single-family home sales prices in Michigan fell 3.9% from an average of $250,000 in July to $240,219 in August. Since August 2023, the sales price of single-family homes across the state has increased 8.5% from $221,442.
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Across the state, sales prices for condos and townhomes rose 2.5%, from an average of $300,000 in July to $307,366 in August. The median sales price of condos and townhomes is up 11.8% from the median of $275,000 in August 2023.
The median home sales price used in this report represents the midpoint of all homes or units listed during the given period. The median provides a more accurate picture of what’s happening in a market than the average sales price, which would involve taking the sum of all sales prices and then dividing it by the number of homes sold. The average can be distorted by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites nationwide, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared in The Holland Sentinel: Homes sold for less in Ottawa County in August: Here’s how much
