Home sales in southwest Michigan slowed down in November. The Southwest Michigan Association of Realtors says the number of houses sold dropped 7% from November of 2020 and 9% from October 2021. Since June, the inventory of houses for sale has continued decreasing more than 20% per month. Additionally, the average selling price in November dropped 7% from the record-setting average selling price in November of 2020. November of 2020 had average selling prices of $344,000 versus $322,000 in 2021. The median selling price in November of 2021 stayed even with November of 2020 at $220,000. The realtors association also says there were two bank-owned or foreclosed homes as part of all southwest Michigan transactions in November, which was just 1%. It adds for the year, home sales as of the end of November were still up 1% over 2020.
