What's Happening?
In July 2025, the median home listing price in Calhoun County, Michigan, decreased to $237,225, marking a 5.1% drop from the previous month and a 6.4% decline from July 2024. This trend is part of a broader national pattern, where the median home price across the United States was $439,450, slightly down from the previous month. The typical home in Calhoun County was listed at $138 per square foot, a 7.9% decrease from the previous year. Homes in the area were on the market for a median of 36 days, which is shorter than the national median of 58 days. The county saw 180 new home listings in July, a significant increase from 136 new listings in July 2024.
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Why It's Important?
The decrease in home listing prices in Calhoun County reflects a cooling housing market, which could have implications for both buyers and sellers. For potential homebuyers, lower prices may present an opportunity to enter the market, especially as homes are selling faster than the national average. However, for sellers, the declining prices could mean reduced profits and longer wait times to sell properties. This trend is indicative of a broader national shift, where housing affordability remains a critical issue. The increase in new listings suggests a potential rise in housing supply, which could further influence market dynamics.
What's Next?
If the trend of decreasing home prices continues, it could lead to increased buyer activity, potentially stabilizing the market. However, economic factors such as interest rates and employment levels will play a crucial role in determining future market conditions. Stakeholders, including real estate agents and policymakers, may need to adjust strategies to accommodate these changes. Monitoring these trends will be essential for understanding the long-term implications for the housing market in Calhoun County and beyond.
