Is West Central, 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, West Central was a Seller's Market.
Key Takeaway
West Central is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in West Central, MI
How much do homes in West Central, MI cost?
Median Sold Price
$65,000
$61/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in West Central have sold for 17.2% more than they did a year ago.
Summary: The median home sold price in West Central was $65,000 in May 2024, up 17.2% from last year, and the median price per square foot was $61.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $36K | N/A |
| 2 Bedrooms | $40K | $49.5K | +23.8% |
| 3 Bedrooms | $58.3K | $68.9K | +18.3% |
| 4 Bedrooms | $68.5K | $91.5K | +33.6% |
| 5+ Bedrooms | $112K | $93.5K | -16.5% |
Summary: West Central 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 23.8%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 33.6%, and 5+ bedroom homes decreased by 16.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Oakman Grove | $175K | $230K | +31.4% |
| Grandale | $44K | $57.2K | +30.1% |
| West Central | $55.4K | $65K | +17.2% |
| Grandale / Brooks | $55K | $60K | +9.1% |
| Fiskorn | $50.7K | $50K | -1.5% |
Housing Supply in West Central, MI
How many homes are available in West Central, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 374 | 410 | +9.6% |
Summary: The West Central real estate market had 410 homes for sale in May 2024, a 9.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 65 | 63 | -3.1% |
| 3 Bedrooms | 264 | 295 | +11.7% |
| 4 Bedrooms | 38 | 44 | +15.8% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The West Central housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 60 | -16.7% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Central, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in West Central in May 2024, down by 16.7% month-over-month. Of the 60 sold homes, 63% were sold under asking, 13% were sold at asking, and 23% were sold over asking.
Days on Market for West Central, MI
How long does it take to sell a home in West Central, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 34 Days | +9.2% |
Summary: Homes in West Central had an average of 34 days on market in May 2024, up by 9.2% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Central are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 60 homes were sold in West Central; 62% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 7% 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.