Is Mears, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Mears was a Seller's Market.
Key Takeaway
Mears is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mears, MI
How much do homes in Mears, MI cost?
Median Sold Price
$427,500
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mears have sold for 37.9% more than they did a year ago.
Summary: The median home sold price in Mears was $427,500 in May 2024, up 37.9% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $85K | N/A |
| 2 Bedrooms | $213.7K | $375K | +75.5% |
| 3 Bedrooms | $329K | $382.5K | +16.3% |
| 4 Bedrooms | $380K | $550K | +44.7% |
| 5+ Bedrooms | $870K | $590K | -32.2% |
Summary: Mears housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 75.5%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 44.7%, and 5+ bedroom homes decreased by 32.2%.
Median Sold Price Compared To Nearby Cities
| Mears | $310K | $427.5K | +37.9% |
| Golden Township | $310K | $418.7K | +35.1% |
| Hart | $215K | $230K | +7.0% |
| Hart Township | $215K | $230K | +7.0% |
Housing Supply in Mears, MI
How many homes are available in Mears, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Summary: The Mears real estate market had 17 homes for sale in May 2024, a 30.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Mears housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mears, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Mears in May 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Mears, MI
How long does it take to sell a home in Mears, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 20 Days | -39.4% |
Summary: Homes in Mears had an average of 20 days on market in May 2024, down by 39.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mears are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Mears; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.