New Buffalo Real Estate

I hope you had an excellent summer with family and friends! As we move into autumn, I felt it was time for a market update. The North Whittaker Street project in New Buffalo phase 2 is underway! This project is some 30 years in the making, and we are all very excited to see this in progress. The pace in the market has been frantic over the last 45 days, and buyer activity is robust. The number of units sold year-to-date is up 14% and as much as 18% in September. Days on the market in 2017 are down 12% to 132. Average sales price is flat year over year, but seeing some recent increases in August & September. Residential listings are down over 10% since last year, and there continues to be a shortage of inventory. A relatively quiet summer selling season has led to a steady stream of buyers moving in this fall. REO/Bank Owned activity has dropped off to 4-5% of the local market; this is the lowest I have seen in some time. Please let me know if you are considering listing your property. It may be an excellent time for a discussion.