Is Park Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Park Township has remained a Seller's Market.
Housing Prices in Park Township, MI
How much do homes in Park Township, MI cost?
Median Sold Price
$425,000
$271/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Park Township was $425,000 in May 2024, up 9.1% from last year, and the median price per square foot was $271.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $1.7M | N/A |
2 Bedrooms | $268.9K | $345K | +28.3% |
3 Bedrooms | $359.9K | $374.9K | +4.2% |
4 Bedrooms | $410K | $450K | +9.8% |
5+ Bedrooms | $591.9K | $642.4K | +8.5% |
Summary: Park Township 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 28.3%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
Holland | $306.7K | $336.2K | +9.6% |
Park Township | $389.4K | $425K | +9.1% |
Holland | $308.1K | $336.2K | +9.1% |
Holland Charter Township | $310.5K | $336.2K | +8.3% |
Housing Supply in Park Township, MI
How many homes are available in Park Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
77 | 82 | +6.5% |
Summary: The Park Township real estate market had 82 homes for sale in May 2024, a 6.5% 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 | 10 | 10 | 0.0% |
3 Bedrooms | 25 | 24 | -4.0% |
4 Bedrooms | 30 | 32 | +6.7% |
5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Park Township 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 remained the same, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 22 | -12.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Park Township in May 2024, down by 12.0% month-over-month. Of the 22 sold homes, 36% were sold under asking, 9% were sold at asking, and 55% were sold over asking.
Days on Market for Park Township, MI
How long does it take to sell a home in Park Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 32 Days | -25.1% |
Summary: Homes in Park Township had an average of 32 days on market in May 2024, down by 25.1% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Park Township; 77% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.