Is 49103, 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, 49103 has remained a Seller's Market.
Key Takeaway
49103 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49103, MI
How much do homes in 49103, MI cost?
Median Sold Price
$305,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49103 have sold for 13.6% more than they did a year ago.
Summary: The median home sold price in 49103 was $305,000 in March 2024, up 13.6% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $161.5K | $179.5K | +11.1% |
| 3 Bedrooms | $230K | $256.5K | +11.5% |
| 4 Bedrooms | $297.7K | $397.5K | +33.5% |
| 5+ Bedrooms | $275.5K | $342K | +24.1% |
Summary: 49103 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 33.5%, and 5+ bedroom homes increased by 24.1%.
Median Sold Price Compared To Nearby Zip Codes
| 49101 | $334.9K | $407K | +21.5% |
| 49103 | $268.5K | $305K | +13.6% |
| 49111 | $226K | $236.4K | +4.6% |
| 49126 | $254.3K | $201.5K | -20.8% |
Housing Supply in 49103, MI
How many homes are available in 49103, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Summary: The 49103 real estate market had 17 homes for sale in March 2024, a 13.3% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 49103 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 decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49103, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in 49103 in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for 49103, MI
How long does it take to sell a home in 49103, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 59 Days | 203 Days | +242.3% |
Summary: Homes in 49103 had an average of 203 days on market in Mar 2024, up by 242.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49103 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in 49103; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
