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Mid-Year Real Estate Market Update

Currently, the real estate market in Kalamazoo, Michigan is experiencing some notable trends:

  • Home Prices and Sales:

  • The median listing price for homes in Kalamazoo is approximately $235,000, with the median sold price slightly lower at around $210,000​ (Realtor)​.

  • The average sale price has seen an increase, now standing at $263,697, up by about $14,379 compared to earlier this year​ (Berkshire Hathaway)​.

  • Home prices per square foot have also increased, with the average list price per square foot at $168 and the sale price per square foot at $143​ (Berkshire Hathaway)​.

  • Inventory and Market Dynamics:

  • We have had a 4.9% increase in homes on the market from last year.

  • New listings have seen a slight increase, with 157 new homes hitting the market recently, suggesting ongoing seller interest​​.

  • Market Conditions:

  • The market is still considered a seller's market, with homes selling for about 96.7% of their asking price​ (Berkshire Hathaway)​.

  • The average time a home stays on the market is around 24 to 55 days, showing a mixed trend in selling times depending on the property type and location​ (Berkshire Hathaway)​.

  • Neighborhood Insights: If you are considering buying or selling in around or near the Kalamazoo area, it’s essential to stay updated with the latest market trends and reach out to one of our local Roy-Miller Realtors to better help you achieve your real estate goals.

  • Popular neighborhoods in Kalamazoo include Edison, Millwood, Oakland, and Westnedge Hill continue to attract buyers due to their amenities and community appeal.

  • Popular areas near Kalamazoo included Texas Corners, Portage, and Mattawan. 

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