January 2024 Housing Market Update

January 2024 Housing Market Update 

Kalamazoo, MI

Here are the latest housing stats for January 2024 for Kalamazoo County.

Average Sales Price: The average sales price in January 2024 was $296,527 which is up 6.35% when compared to January 2023's

Average Number of Showings Until Pending: There was an average of 12 showings until a home went pending in January 2024

Average Days on Market: Homes were on the market for an average of 19 days in January 2024, slightly longer compared to 15 days in January 2023

# Homes For Sale: There were 377 homes for sale showing an increase from 343 homes available in January 2023 indicating a rise in housing inventory.

Average Percent of List Price Sellers Received: In January 2024, sellers received an average of 99.8% of their listing price, a slight decrease from 101% in January 2023. This indicates that buyers in 2024 were slightly less willing to pay above the asking price compared to the previous year.

Months Supply of Inventory: The months supply of inventory in January 2024 was 1.5 months, up from 1.1 months in January 2023 showing an increase in inventory and giving buyers more to choose from

Let's connect if you are thinking about buying and/or selling today!

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