Allegan County home prices increased 0.9% in February

In Allegan County, the price of homes continued to rise in February. The median list price for a home reached $425,000, which is a 0.9% increase from January's $421,200. Compared to February 2024, this price is up slightly by 0.4%. The median home in the area is about 2,025 square feet, priced at $217 per square foot. This price per square foot has gone up by 3.5% since February 2024. Homes in Allegan County sold more slowly, remaining listed for a median of 76 days. This is longer than the national average of 66 days for homes on the market. In February, around 78 new homes were listed. This is a decrease of 15.2% from the 92 new listings in February 2024. It is important to note that these statistics only reflect homes currently listed and do not include homes that are sold. In the nearby Holland metro area, median home prices also increased to $424,975. The average size of these homes is slightly smaller at 2,017 square feet, with a list price of $218 per square foot. Overall, Michigan's median home price stands at $265,350, and the national median price is $412,000, showing small rises from the previous month. Experts say that median prices provide a clearer picture of the housing market than average prices, which can be affected by very high or low sales.