Is 49098, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 49098 was a Buyer's Market.
Key Takeaway
49098 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49098, MI
How much do homes in 49098, MI cost?
Median Sold Price
$240,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49098 have sold for 24.4% more than they did a year ago.
Summary: The median home sold price in 49098 was $240,000 in April 2024, up 24.4% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $124.2K | N/A |
| 2 Bedrooms | $162.5K | $170K | +4.6% |
| 3 Bedrooms | $205K | $206K | 0.5% |
| 4 Bedrooms | $299K | $289.9K | -3.0% |
| 5+ Bedrooms | $280K | $554.9K | +98.2% |
Summary: 49098 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 4.6%, 3 bedroom homes increased by 0.5%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 98.2%.
Housing Supply in 49098, MI
How many homes are available in 49098, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 34 | -2.9% |
Summary: The 49098 real estate market had 34 homes for sale in April 2024, a 2.9% decrease 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 15 | 12 | -20.0% |
| 4 Bedrooms | 15 | 16 | +6.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 49098 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49098, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 49098 in April 2024, up by 28.6% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for 49098, MI
How long does it take to sell a home in 49098, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49098 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 9 homes were sold in 49098; 33% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 44% 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.