Among the 30 homes to be highlighted in this series is this 5,837-square-foot house with six-bedrooms and seven bathrooms at 42 Northshore Dirve in Casco Township in Allegan County. It is listed for $3.2 million, but is not the highest-priced listing in Allegan County.
KALAMAZOO, MI — The credit crunch and job losses that marked the Great Recession of 2008 resulted in lots of people losing their home and left lawns in many neighborhoods littered with “for sale” signs.
While many are still waiting to see more hiring since the recession officially ended in 2010, things have changed a bit in the Southwest Michigan real estate market.
“I think essentially there’s been a shift in the market,” said Robin Pompey, chief executive officer of the Greater Kalamazoo Association of Realtors.
In Greater Kalamazoo, homes sold at pre-recession levels in January – jumping 28.8 percent from January of 2011 – after closing stronger during the last few months of 2012.
“We saw a lot of foreclosures that saturated the market,” Pompey said of the past few years. “Those have been purchased and we’re back to looking at a more true market; what we saw in the past. Supply and demand is back in balance.”
Many people owed more on their homes than they could fetch if they sold them. But she said, “I think we’ve gotten past that and at this point if you’re looking to sell, now’s a great time to sell your home. It’s a great time to get into the market.”
That includes those looking for houses above six-figures. Southwest Michigan Realtors say home sales in that category have been steady.
For anyone looking to dust off his or her wallet in order to buy a dream home, today (Monday) we start a series of reports looking at the five highest-priced homes listed in Kalamazoo County and each of the five surrounding counties.
The “Million-dollar homes” series includes:
In Kalamazoo County – A home designed for horse lovers on 63-acres in Ross Township. It is listed for $2.5 million.
In Allegan County – A custom-built equestrian estate situated on 60.5 acres with three ponds in Otsego Township. It is listed for $5.2 million.
In Van Buren County (coming Tuesday) – A Lake Michigan
dream house that is to be completed this spring in the city of South
Haven with views of the pier and lighthouse. It is listed for $2.6
million.
In St. Joseph County (coming Wednesday) – A family compound on 1.5 acres at Corey Lake in Fabius Township. It is listed for $937,000.
In Berrien County (coming Thursday) – An 11,000-square-foot European-inspired home overlooking Lake Michigan in the lakeshore’s Harbor Country. It is listed for $7.3 million.
In Cass County (coming Friday) – A 5,700-square-foot lakefront house on Eagle lake in Ontwa Township near Edwardsburg. It is listed for $1.9 million.
Related stories:
-Parade of Homes: What does a $1 million lake house look like in Kalamazoo County?
–See West Michigan’s Top 10 most expensive homes for sale
Business writer Al Jones may be contacted at ajones5@mlive.com and 269-365-7187. Follow me on Twitter at ajones5_al.
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