For the
Holland area condo market sales-- including
Zeeland, Saugatuck and Douglas for the dates of January 1 to April 24 2007 Vs 2008. In 2007 for this date range there were 81 condos sold Vs 47 in 2008, YIKES! a 42% decrease. Average sale price in 2007 was $152,302 compared to $161,990 in 2008 representing a 6% increase in average sale price. Average list price to sale price percentage in 2007 was 97.27% and in 2008 that number was 96.96%. Average days on the market in 2007 was 231 for these 81 condos whereas in 2008 it took an average of 205 days to sell a listed condo. The highest price sold condo in 2007 was $400,000 and the lowest was $53,000 in 2008 those numbers were $1,000,000 and $48,970. That $1,000,000 sale would explain some of the increase in average sale price as the next highest sale was $348,000 and without that sale, the average sold price would have been $143,772.
Overall it seems the condo market is struggling right now with volume and essentially average price down significantly. Who would have thought 3 years ago this would be the market that would be suffering the most?