Is 49240, 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, 49240 was a Buyer's Market.
Housing Prices in 49240, MI
How much do homes in 49240, MI cost?
Median Sold Price
$330,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 49240 was $330,000 in March 2024, down 7% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | $275.5K | +17.2% |
2 Bedrooms | $205K | $192K | -6.3% |
3 Bedrooms | $341K | $335K | -1.8% |
4 Bedrooms | $362K | $420.2K | +16.1% |
5+ Bedrooms | $392.4K | $480K | +22.3% |
Summary: 49240 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.2%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 22.3%.
Housing Supply in 49240, MI
How many homes are available in 49240, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 24 | +100.0% |
Summary: The 49240 real estate market had 24 homes for sale in March 2024, a 100.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 1 | 4 | +300.0% |
3 Bedrooms | 4 | 9 | +125.0% |
4 Bedrooms | 6 | 9 | +50.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The 49240 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 increased by 300%, 3 bedroom homes increased by 125%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
0 | 7 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in 49240 in March 2024, up by 100.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for 49240, MI
How long does it take to sell a home in 49240, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in 49240; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.