Is 49085, 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, 49085 has remained a Seller's Market.
Key Takeaway
49085 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49085, MI
How much do homes in 49085, MI cost?
Median Sold Price
$325,875
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49085 have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in 49085 was $325,875 in April 2024, up 3.5% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | $170.5K | +31.2% |
| 2 Bedrooms | $209.5K | $241K | +15.1% |
| 3 Bedrooms | $261K | $290K | +11.1% |
| 4 Bedrooms | $386K | $399K | +3.4% |
| 5+ Bedrooms | $600K | $481.5K | -19.8% |
Summary: 49085 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 19.8%.
Housing Supply in 49085, MI
How many homes are available in 49085, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 105 | 111 | +5.7% |
Summary: The 49085 real estate market had 111 homes for sale in April 2024, a 5.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 23 | 26 | +13.0% |
| 3 Bedrooms | 42 | 43 | +2.4% |
| 4 Bedrooms | 29 | 30 | +3.4% |
| 5+ Bedrooms | 11 | 11 | 0.0% |
Summary: The 49085 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 37 | +60.9% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49085, you may be able to get a good deal. 59.5% of homes here sold below asking price last month.
Summary: A total of 37 homes were sold or pending in 49085 in April 2024, up by 60.9% month-over-month. Of the 37 sold homes, 59% were sold under asking, 16% were sold at asking, and 24% were sold over asking.
Days on Market for 49085, MI
How long does it take to sell a home in 49085, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 52 Days | +4.9% |
Summary: Homes in 49085 had an average of 52 days on market in Apr 2024, up by 4.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 49085 has remained consistent over time.
Summary: During April 2024, 37 homes were sold in 49085; 30% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.