Kalamazoo, MI

Kalamazoo is a city located in Kalamazoo County, Michigan. As of the 2010 census, the city had a population of 74,269. The city is home to Western Michigan University and Kalamazoo Valley Community College.

Real estate in Kalamazoo has seen steady growth over the past few years. In 2016, there were an estimated 5,000 residential properties available for sale in the city. This number is up from 4,500 homes available for sale in 2015 and 3,500 homes available for sale in 2014. The average price of a home sold in Kalamazoo during 2016 was $151,000.

The primary drivers of real estate growth in Kalamazoo are strong job growth and population growth. Over the past few years, Kalamazoo has seen significant job growth thanks to companies such as Western Michigan University and Toyota Motor Manufacturing North America (TMMA). In addition, the city has seen a large influx of new residents due to its proximity to both Detroit and Lansing. As a result of these factors, demand for housing has increased significantly over the past few years.

One potential obstacle to continued real estate growth in Kalamazoo is limited land availability. The city currently has an inventory of only 5,000 homes available for sale which is well below the 10-15 thousand homes that are typically needed to meet demand throughout most parts of the country. If this shortage continues to persist then prices may start to rise as more people look to purchase homes in Kalamazoo.