Is 49316, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 49316 has remained a Seller's Market.
Key Takeaway
49316 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49316, MI
How much do homes in 49316, MI cost?
Median Sold Price
$390,980
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49316 have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in 49316 was $390,980 in March 2024, up 8.2% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $341K | $220K | -35.5% |
| 2 Bedrooms | $269.9K | $304K | +12.6% |
| 3 Bedrooms | $335K | $369.9K | +10.4% |
| 4 Bedrooms | $430K | $445K | +3.5% |
| 5+ Bedrooms | $539.9K | $530K | -1.8% |
Summary: 49316 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.5%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 1.8%.
Housing Supply in 49316, MI
How many homes are available in 49316, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 68 | +9.7% |
Summary: The 49316 real estate market had 68 homes for sale in March 2024, a 9.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 14 | 24 | +71.4% |
| 4 Bedrooms | 26 | 21 | -19.2% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 49316 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 7.1%, 3 bedroom homes increased by 71.4%, 4 bedroom homes decreased by 19.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49316, expect to pay close to the asking price. 35% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in 49316 in March 2024, down by 4.8% month-over-month. Of the 20 sold homes, 30% were sold under asking, 35% were sold at asking, and 35% were sold over asking.
Days on Market for 49316, MI
How long does it take to sell a home in 49316, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 19 Days | -56.8% |
Summary: Homes in 49316 had an average of 19 days on market in Mar 2024, down by 56.8% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 49316 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 20 homes were sold in 49316; 75% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
