Is 49117, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 49117 was a Seller's Market.
Housing Prices in 49117, MI
How much do homes in 49117, MI cost?
Median Sold Price
$575,000
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 49117 was $575,000 in March 2024, down 1% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $354.2K | $350K | -1.2% |
2 Bedrooms | $350K | $424.5K | +21.3% |
3 Bedrooms | $560K | $500K | -10.7% |
4 Bedrooms | $847.5K | $703.5K | -17.0% |
5+ Bedrooms | $1.3M | $1.2M | -2.8% |
Summary: 49117 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.2%, 2 bedroom homes increased by 21.3%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes decreased by 17%, and 5+ bedroom homes decreased by 2.8%.
Housing Supply in 49117, MI
How many homes are available in 49117, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
53 | 69 | +30.2% |
Summary: The 49117 real estate market had 69 homes for sale in March 2024, a 30.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 22 | 26 | +18.2% |
4 Bedrooms | 13 | 19 | +46.2% |
5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The 49117 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 11 | +175.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 49117 in March 2024, up by 175.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 45% were sold at asking, and 9% were sold over asking.
Days on Market for 49117, MI
How long does it take to sell a home in 49117, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
88 Days | 69 Days | -21.5% |
Summary: Homes in 49117 had an average of 69 days on market in Mar 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 49117; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.