Is 49008, 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, 49008 has remained a Seller's Market.
Key Takeaway
49008 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49008, MI
How much do homes in 49008, MI cost?
Median Sold Price
$229,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49008 have sold for 13% more than they did a year ago.
Summary: The median home sold price in 49008 was $229,000 in April 2024, up 13% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103K | $83.5K | -18.9% |
| 2 Bedrooms | $150K | $165K | +10.0% |
| 3 Bedrooms | $235K | $243.2K | +3.5% |
| 4 Bedrooms | $275K | $336.5K | +22.4% |
| 5+ Bedrooms | $174.9K | $458.9K | +162.3% |
Summary: 49008 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.9%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes increased by 162.3%.
Housing Supply in 49008, MI
How many homes are available in 49008, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 | 46 | +9.5% |
Summary: The 49008 real estate market had 46 homes for sale in April 2024, a 9.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The 49008 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 31.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49008, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in 49008 in April 2024, up by 44.4% month-over-month. Of the 13 sold homes, 31% were sold under asking, 8% were sold at asking, and 62% were sold over asking.
Days on Market for 49008, MI
How long does it take to sell a home in 49008, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 21 Days | -44.8% |
Summary: Homes in 49008 had an average of 21 days on market in Apr 2024, down by 44.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 49008 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in 49008; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
