Is 49028, 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, 49028 has remained a Seller's Market.
Key Takeaway
49028 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49028, MI
How much do homes in 49028, MI cost?
Median Sold Price
$187,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49028 have sold for 18.7% more than they did a year ago.
Summary: The median home sold price in 49028 was $187,000 in April 2024, up 18.7% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $205K | $126K | -38.5% |
| 2 Bedrooms | $135K | $174.7K | +29.4% |
| 3 Bedrooms | $175K | $170K | -2.9% |
| 4 Bedrooms | $170.5K | $234.9K | +37.8% |
| 5+ Bedrooms | $195K | $228.7K | +17.3% |
Summary: 49028 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.5%, 2 bedroom homes increased by 29.4%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 37.8%, and 5+ bedroom homes increased by 17.3%.
Housing Supply in 49028, MI
How many homes are available in 49028, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 28 | 0.0% |
Summary: The 49028 real estate market had 28 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 49028 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 75%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49028, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 49028 in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 29% were sold under asking, 57% were sold at asking, and 14% were sold over asking.
Days on Market for 49028, MI
How long does it take to sell a home in 49028, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 43 Days | 74 Days | +73.4% |
Summary: Homes in 49028 had an average of 74 days on market in Apr 2024, up by 73.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49028 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 7 homes were sold in 49028; 29% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.