Is Portage 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, Portage Township has remained a Seller's Market.
Housing Prices in Portage Township, MI
How much do homes in Portage Township, MI cost?
Median Sold Price
$273,554
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Portage Township was $273,554 in May 2024, up 1.5% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $98.5K | $112K | +13.7% |
2 Bedrooms | $179.9K | $210K | +16.7% |
3 Bedrooms | $245K | $244K | -0.4% |
4 Bedrooms | $325K | $315K | -3.1% |
5+ Bedrooms | $430K | $441.4K | +2.7% |
Summary: Portage Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 2.7%.
Housing Supply in Portage Township, MI
How many homes are available in Portage Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
166 | 188 | +13.3% |
Summary: The Portage Township real estate market had 188 homes for sale in May 2024, a 13.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 16 | 21 | +31.3% |
3 Bedrooms | 72 | 79 | +9.7% |
4 Bedrooms | 64 | 67 | +4.7% |
5+ Bedrooms | 13 | 20 | +53.8% |
Summary: The Portage 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 increased by 31.3%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 53.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
47 | 57 | +21.3% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 57 homes were sold or pending in Portage Township in May 2024, up by 21.3% month-over-month. Of the 57 sold homes, 51% were sold under asking, 16% were sold at asking, and 33% were sold over asking.
Days on Market for Portage Township, MI
How long does it take to sell a home in Portage Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
19 Days | 17 Days | -9.4% |
Summary: Homes in Portage Township had an average of 17 days on market in May 2024, down by 9.4% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 57 homes were sold in Portage Township; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.