Is 49031, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 49031 was a Seller's Market.
Key Takeaway
49031 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 49031, MI
How much do homes in 49031, MI cost?
Median Sold Price
$227,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49031 have sold for 14.3% less than they did a year ago.
Summary: The median home sold price in 49031 was $227,000 in March 2024, down 14.3% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $234.5K | $167.2K | -28.7% |
| 3 Bedrooms | $265K | $225K | -15.1% |
| 4 Bedrooms | $203.2K | $275K | +35.3% |
| 5+ Bedrooms | $852.5K | $1.2M | +43.7% |
Summary: 49031 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 28.7%, 3 bedroom homes decreased by 15.1%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 43.7%.
Housing Supply in 49031, MI
How many homes are available in 49031, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 21 | +23.5% |
Summary: The 49031 real estate market had 21 homes for sale in March 2024, a 23.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 9 | 13 | +44.4% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 49031 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 44.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49031, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in 49031 in March 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for 49031, MI
How long does it take to sell a home in 49031, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 89 Days | 21 Days | -75.8% |
Summary: Homes in 49031 had an average of 21 days on market in Mar 2024, down by 75.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49031 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in 49031; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
