Is 49047, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 49047 has remained a Seller's Market.
Key Takeaway
49047 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49047, MI
How much do homes in 49047, MI cost?
Median Sold Price
$185,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49047 have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in 49047 was $185,000 in March 2024, up 8.8% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $225K | +80.0% |
| 2 Bedrooms | $128.3K | $123.7K | -3.5% |
| 3 Bedrooms | $184.4K | $199.5K | +8.2% |
| 4 Bedrooms | $245K | $356.7K | +45.6% |
| 5+ Bedrooms | $302.9K | $258.5K | -14.7% |
Summary: 49047 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 80%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 45.6%, and 5+ bedroom homes decreased by 14.7%.
Housing Supply in 49047, MI
How many homes are available in 49047, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 56 | 61 | +8.9% |
Summary: The 49047 real estate market had 61 homes for sale in March 2024, a 8.9% 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 | 11 | 15 | +36.4% |
| 3 Bedrooms | 28 | 31 | +10.7% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 49047 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 increased by 36.4%, 3 bedroom homes increased by 10.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49047, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in 49047 in March 2024, up by 37.5% month-over-month. Of the 11 sold homes, 73% were sold under asking, 18% were sold at asking, and 9% were sold over asking.
Days on Market for 49047, MI
How long does it take to sell a home in 49047, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 104 Days | 90 Days | -13.6% |
Summary: Homes in 49047 had an average of 90 days on market in Mar 2024, down by 13.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49047 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 11 homes were sold in 49047; 27% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 64% of homes were sold over 90 days.
