Is Ludington, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Ludington has remained a Seller's Market.
Housing Prices in Ludington, MI
How much do homes in Ludington, MI cost?
Median Sold Price
$292,000
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Ludington was $292,000 in April 2024, up 16.8% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $175K | -16.7% |
2 Bedrooms | $229K | $268K | +17.0% |
3 Bedrooms | $248.7K | $284K | +14.2% |
4 Bedrooms | $285K | $345K | +21.1% |
5+ Bedrooms | $430K | $476K | +10.7% |
Summary: Ludington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.7%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 14.2%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 10.7%.
Housing Supply in Ludington, MI
How many homes are available in Ludington, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
55 | 70 | +27.3% |
Summary: The Ludington real estate market had 70 homes for sale in April 2024, a 27.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 8 | 10 | +25.0% |
3 Bedrooms | 26 | 36 | +38.5% |
4 Bedrooms | 15 | 16 | +6.7% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Ludington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 38.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 15 | +36.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Ludington in April 2024, up by 36.4% month-over-month. Of the 15 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Ludington, MI
How long does it take to sell a home in Ludington, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 38 Days | +133.7% |
Summary: Homes in Ludington had an average of 38 days on market in Apr 2024, up by 133.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in Ludington; 40% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.