Is 49315, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49315 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 49315 has remained a Seller's Market.

Key Takeaway

49315 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49315, MI

How much do homes in 49315, MI cost?

Median Sold Price

$440,694

$252/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$36,694(+9.1%)

Key Takeaway

Homes in 49315 have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in 49315 was $440,694 in February 2024, up 9.1% from last year, and the median price per square foot was $252.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $319K-
N/A
2 $291.7K$272.5K
-6.6%
3 $335K$365K
+9.0%
4 $479.9K$495.8K
+3.3%
5+ $623.2K$615.2K
-1.3%

Summary: 49315 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 1.3%.

Median Sold Price Compared To Nearby Zip Codes

49418
+10.3%
49548
+9.5%
49315
+9.1%
49508
+7.3%
49519
+6.7%

Housing Supply in 49315, MI

How many homes are available in 49315, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
7973-7.6%

Summary: The 49315 real estate market had 73 homes for sale in February 2024, a 7.6% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 21
-50.0%
2 129
-25.0%
3 2927
-6.9%
4 2930
+3.4%
5+ 76
-14.3%

Summary: The 49315 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1920+5.3%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49315, you could pay more than the asking price. 45% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in 49315 in February 2024, up by 5.3% month-over-month. Of the 20 sold homes, 35% were sold under asking, 20% were sold at asking, and 45% were sold over asking.

Days on Market for 49315, MI

How long does it take to sell a home in 49315, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
31 Days50 Days+61.4%

Summary: Homes in 49315 had an average of 50 days on market in Feb 2024, up by 61.4% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49315 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 20 homes were sold in 49315; 60% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 49315, MI

Nearby Markets to 49315, MI