Is 49120, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 49120 has remained a Seller's Market.
Housing Prices in 49120, MI
How much do homes in 49120, MI cost?
Median Sold Price
$178,841
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 49120 was $178,841 in February 2024, up 5.8% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80.5K | $76.5K | -5.0% |
2 Bedrooms | $133K | $140K | +5.3% |
3 Bedrooms | $170K | $176.3K | +3.7% |
4 Bedrooms | $222.5K | $255K | +14.6% |
5+ Bedrooms | $680K | $420K | -38.2% |
Summary: 49120 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes decreased by 38.2%.
Median Sold Price Compared To Nearby Zip Codes
49107 | $175K | $215K | +22.9% |
49120 | $169.1K | $178.8K | +5.8% |
Housing Supply in 49120, MI
How many homes are available in 49120, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
133 | 136 | +2.3% |
Summary: The 49120 real estate market had 136 homes for sale in February 2024, a 2.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 28 | 26 | -7.1% |
3 Bedrooms | 60 | 61 | +1.7% |
4 Bedrooms | 33 | 33 | 0.0% |
5+ Bedrooms | 11 | 15 | +36.4% |
Summary: The 49120 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 decreased by 7.1%, 3 bedroom homes increased by 1.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
27 | 32 | +18.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in 49120 in February 2024, up by 18.5% month-over-month. Of the 32 sold homes, 56% were sold under asking, 19% were sold at asking, and 25% were sold over asking.
Days on Market for 49120, MI
How long does it take to sell a home in 49120, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
48 Days | 71 Days | +48.0% |
Summary: Homes in 49120 had an average of 71 days on market in Feb 2024, up by 48% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During February 2024, 32 homes were sold in 49120; 38% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.