Is 49307, 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, 49307 has remained a Seller's Market.
Key Takeaway
49307 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49307, MI
How much do homes in 49307, MI cost?
Median Sold Price
$208,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49307 have sold for 13.2% more than they did a year ago.
Summary: The median home sold price in 49307 was $208,000 in April 2024, up 13.2% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $98.5K | $145K | +47.2% |
| 2 Bedrooms | $140K | $172.5K | +23.2% |
| 3 Bedrooms | $170K | $201K | +18.2% |
| 4 Bedrooms | $250K | $219.5K | -12.2% |
| 5+ Bedrooms | $219.9K | $312.5K | +42.1% |
Summary: 49307 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.2%, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 12.2%, and 5+ bedroom homes increased by 42.1%.
Median Sold Price Compared To Nearby Zip Codes
| 49338 | $160K | $205K | +28.1% |
| 49320 | $127.4K | $150K | +17.7% |
| 49307 | $183.7K | $208K | +13.2% |
| 49346 | $260K | $288.7K | +11.0% |
| 49342 | $185K | $193K | +4.3% |
Housing Supply in 49307, MI
How many homes are available in 49307, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 64 | 76 | +18.8% |
Summary: The 49307 real estate market had 76 homes for sale in April 2024, a 18.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 26 | 31 | +19.2% |
| 4 Bedrooms | 21 | 23 | +9.5% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The 49307 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 33.3%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 21 | +61.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49307, expect to pay close to the asking price. 61.9% of homes here sold near the asking price last month.
Summary: A total of 21 homes were sold or pending in 49307 in April 2024, up by 61.5% month-over-month. Of the 21 sold homes, 24% were sold under asking, 62% were sold at asking, and 14% were sold over asking.
Days on Market for 49307, MI
How long does it take to sell a home in 49307, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 47 Days | -5.3% |
Summary: Homes in 49307 had an average of 47 days on market in Apr 2024, down by 5.3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49307 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in 49307; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.