Is 49071, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49071 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 49071 has remained a Seller's Market.

Key Takeaway

49071 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49071, MI

How much do homes in 49071, MI cost?

Median Sold Price

$339,950

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$14,950(+4.6%)

Key Takeaway

Homes in 49071 have sold for 4.6% more than they did a year ago.

Summary: The median home sold price in 49071 was $339,950 in February 2024, up 4.6% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $93.5K$250K
+167.4%
3 $287K$289.9K
+1.0%
4 $350K$357.3K
+2.1%
5+ $505K$575K
+13.9%

Summary: 49071 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 167.4%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 13.9%.

Median Sold Price Compared To Nearby Zip Codes

49065
+22.4%
49009
+8.3%
49087
+7.9%
49071
+4.6%
49079
+2.4%

Housing Supply in 49071, MI

How many homes are available in 49071, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
24240.0%

Summary: The 49071 real estate market had 24 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 22
0.0%
3 118
-27.3%
4 810
+25.0%
5+ 34
+33.3%

Summary: The 49071 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 27.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
660.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49071, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 49071 in February 2024, the same as the previous month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for 49071, MI

How long does it take to sell a home in 49071, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
13 Days35 Days+158.5%

Summary: Homes in 49071 had an average of 35 days on market in Feb 2024, up by 158.5% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49071 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 6 homes were sold in 49071; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 49071, MI

Nearby Markets to 49071, MI