Is 49022, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 49022 was a Seller's Market.
Key Takeaway
49022 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 49022, MI
How much do homes in 49022, MI cost?
Median Sold Price
$177,450
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49022 have sold for 22.5% more than they did a year ago.
Summary: The median home sold price in 49022 was $177,450 in April 2024, up 22.5% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57K | $84K | +47.4% |
| 2 Bedrooms | $80K | $127K | +58.8% |
| 3 Bedrooms | $170K | $168.5K | -0.9% |
| 4 Bedrooms | $205.7K | $309.9K | +50.6% |
| 5+ Bedrooms | $335.5K | $306K | -8.8% |
Summary: 49022 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.4%, 2 bedroom homes increased by 58.8%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 50.6%, and 5+ bedroom homes decreased by 8.8%.
Housing Supply in 49022, MI
How many homes are available in 49022, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 77 | 79 | +2.6% |
Summary: The 49022 real estate market had 79 homes for sale in April 2024, a 2.6% 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 | 21 | 26 | +23.8% |
| 3 Bedrooms | 39 | 34 | -12.8% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The 49022 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 increased by 23.8%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49022, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in 49022 in April 2024, down by 27.8% month-over-month. Of the 13 sold homes, 46% were sold under asking, 38% were sold at asking, and 15% were sold over asking.
Days on Market for 49022, MI
How long does it take to sell a home in 49022, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 69 Days | 81 Days | +17.6% |
Summary: Homes in 49022 had an average of 81 days on market in Apr 2024, up by 17.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49022 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 13 homes were sold in 49022; 38% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 46% 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.