Is 49038, 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, 49038 has remained a Seller's Market.
Key Takeaway
49038 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49038, MI
How much do homes in 49038, MI cost?
Median Sold Price
$249,900
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49038 have sold for 19.6% more than they did a year ago.
Summary: The median home sold price in 49038 was $249,900 in April 2024, up 19.6% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142K | - | N/A |
| 2 Bedrooms | $177.7K | $218K | +22.6% |
| 3 Bedrooms | $190K | $249.9K | +31.5% |
| 4 Bedrooms | $297.4K | $294.9K | -0.9% |
| 5+ Bedrooms | $315K | $526.5K | +67.1% |
Summary: 49038 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 31.5%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 67.1%.
Housing Supply in 49038, MI
How many homes are available in 49038, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 41 | +5.1% |
Summary: The 49038 real estate market had 41 homes for sale in April 2024, a 5.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 10 | -23.1% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The 49038 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 decreased by 23.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 14 | +40.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49038, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in 49038 in April 2024, up by 40.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 7% were sold at asking, and 50% were sold over asking.
Days on Market for 49038, MI
How long does it take to sell a home in 49038, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 26 Days | +35.8% |
Summary: Homes in 49038 had an average of 26 days on market in Apr 2024, up by 35.8% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 49038 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 14 homes were sold in 49038; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
