Is Pleasant Ridge, 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, Pleasant Ridge has remained a Seller's Market.
Key Takeaway
Pleasant Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pleasant Ridge, MI
How much do homes in Pleasant Ridge, MI cost?
Median Sold Price
$500,000
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pleasant Ridge have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in Pleasant Ridge was $500,000 in May 2024, up 13.6% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $242.5K | $327.4K | +35.0% |
| 3 Bedrooms | $420K | $471K | +12.1% |
| 4 Bedrooms | $565K | $755K | +33.6% |
| 5+ Bedrooms | $820K | $962.5K | +17.4% |
Summary: Pleasant Ridge 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 35%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 33.6%, and 5+ bedroom homes increased by 17.4%.
Housing Supply in Pleasant Ridge, MI
How many homes are available in Pleasant Ridge, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 11 | 0.0% |
Summary: The Pleasant Ridge real estate market had 11 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 6 | 4 | -33.3% |
| 4 Bedrooms | 2 | 5 | +150.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Pleasant Ridge 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 decreased by 50%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 150%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pleasant Ridge, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Pleasant Ridge in May 2024, down by 16.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Pleasant Ridge, MI
How long does it take to sell a home in Pleasant Ridge, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 8 Days | +113.9% |
Summary: Homes in Pleasant Ridge had an average of 8 days on market in May 2024, up by 113.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pleasant Ridge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Pleasant Ridge; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
