The Saugatuck market continued its spring transition in May, and the shift from April to May reveals a market that is loosening at the top, tightening in the middle, and seeing buyers step up for higher-quality listings.

Inventory expanded, prices moved in different directions depending on the metric, and days on market stretched — all signs of a market that is active but more deliberate than last spring.

Inventory & Activity Trends

Active listings increased from 24 in April to 33 in May, a meaningful jump heading into the summer season. However, new listings edged down from 15 to 12, suggesting that the rise in inventory is driven more by homes staying on the market longer than by a surge of new sellers.

Pending sales slowed notably — from 11 in April to just 4 in May — while closed sales slipped from 8 to 6. This is the clearest indicator that buyers are being more selective and taking longer to commit.

Pricing: A Tale of Two Metrics

List Prices

The listing side of the market softened slightly:

• Average active list price decreased from approximately $1,148,496 in April to $1,082,176 in May.
• Median active list price moved down from about $859,450 to $739,900.

This reflects a shift in the mix of available inventory — more mid‑range listings and fewer ultra‑premium properties compared to April.

Sale Prices

On the sold side, the story flips:

• Average sale price rose from roughly $819,563 in April to $922,417 in May.
• Median sale price jumped from about $565,000 to $830,000.

Buyers who are writing offers are clearly targeting higher‑quality, well‑positioned homes, even as overall activity slows.

Days on Market & Market Pace

Time on market shows a split personality:

• Average CDOM (cumulative days on market) increased from 57 days in April to 77 days in May.
• Median CDOM dropped from 15 days to just 2 days.

This tells us two things: older, previously stagnant listings are accumulating days and pulling the average up, while well‑priced new listings are still moving immediately, keeping the median extremely low.

The absorption rate also increased from 4.06 in April to 5.42 in May, reflecting a larger pool of active listings relative to recent sales.

What This Means for Buyers & Sellers

For Sellers

• Buyers who are active are serious and willing to pay for quality, as shown by the jump in median sale price.
• Pricing strategy matters more than ever — homes aligned with market expectations are still selling quickly.
• Expect more competition among listings as inventory builds into summer.

For Buyers

• More choices are finally emerging after a tighter winter and early spring.
• The upper‑mid market (roughly $700,000–$1,200,000) is where the most movement is happening.
• Well‑priced homes still attract fast offers — hesitation can mean missing the right property.

Bottom Line

May brought more inventory, fewer accepted offers, and higher sale prices — a combination that underscores a market in transition. Saugatuck remains a premium destination, but buyers are moving more deliberately, and sellers need to position their homes strategically to capture attention.

If you’d like a breakdown for your specific neighborhood or price band, reach out and I can provide a custom analysis tailored to your property and goals.