Now that we have closed out another year, it is always a good idea to look at the final market numbers on the year. In comparing the medium home value in Calhoun County in 2012 ($79,948) to the medium home value in 2013 ($95,123) we see that there was approximately a 16% increase. This information was taken from the Southwest Regional Information Center Multiple Listing Service (MLS) in review of all sales in Calhoun County.
In Branch County as a comparison there was a 14% improvement over the same time, however in St. Joseph County there was just a 1.5%. In Hillsdale County there was an increase of 12% in medium home values, and in Kalamazoo County there was an 8% increase. So in most of major markets in the Southwest Michigan area there was a positive home sales value increase from 2012 to 2013.
This kind of improvement opens the door for greater values from home sales for sellers, and should create a greater urgency with home buyers in 2014 to take advantage of the improving market with low interest rates.