Is 49247, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 49247 has remained a Seller's Market.
Key Takeaway
49247 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49247, MI
How much do homes in 49247, MI cost?
Median Sold Price
$147,000
$97/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49247 have sold for 10.9% less than they did a year ago.
Summary: The median home sold price in 49247 was $147,000 in April 2024, down 10.9% from last year, and the median price per square foot was $97.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $165K | $142.5K | -13.6% |
| 3 Bedrooms | $165K | $139.9K | -15.2% |
| 4 Bedrooms | $190K | $159.2K | -16.2% |
| 5+ Bedrooms | $160K | $140K | -12.5% |
Summary: 49247 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 decreased by 13.6%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes decreased by 16.2%, and 5+ bedroom homes decreased by 12.5%.
Median Sold Price Compared To Nearby Zip Codes
| 49271 | $173K | $195.5K | +13.0% |
| 49247 | $165K | $147K | -10.9% |
| 49235 | $205.7K | $180K | -12.5% |
| 49256 | $123.5K | $108K | -12.6% |
Housing Supply in 49247, MI
How many homes are available in 49247, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 30 | +50.0% |
Summary: The 49247 real estate market had 30 homes for sale in April 2024, a 50.0% increase 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 | 1 | 6 | +500.0% |
| 3 Bedrooms | 11 | 15 | +36.4% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 49247 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 increased by 500%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49247, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in 49247 in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 57% were sold at asking, and 14% were sold over asking.
Days on Market for 49247, MI
How long does it take to sell a home in 49247, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 35 Days | +36.8% |
Summary: Homes in 49247 had an average of 35 days on market in Apr 2024, up by 36.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 49247 has remained consistent over time.
Summary: During April 2024, 7 homes were sold in 49247; 43% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.