Is 49331, 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, 49331 has remained a Seller's Market.
Key Takeaway
49331 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49331, MI
How much do homes in 49331, MI cost?
Median Sold Price
$400,805
$242/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49331 have sold for 17.9% more than they did a year ago.
Summary: The median home sold price in 49331 was $400,805 in March 2024, up 17.9% from last year, and the median price per square foot was $242.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178K | $170K | -4.5% |
| 2 Bedrooms | $263K | $332.5K | +26.4% |
| 3 Bedrooms | $302.5K | $337.5K | +11.6% |
| 4 Bedrooms | $370K | $449.9K | +21.6% |
| 5+ Bedrooms | $537.5K | $478.7K | -10.9% |
Summary: 49331 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 26.4%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes decreased by 10.9%.
Housing Supply in 49331, MI
How many homes are available in 49331, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 38 | +2.7% |
Summary: The 49331 real estate market had 38 homes for sale in March 2024, a 2.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 49331 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 decreased by 16.7%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49331, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in 49331 in March 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for 49331, MI
How long does it take to sell a home in 49331, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 44 Days | 151 Days | +238.1% |
Summary: Homes in 49331 had an average of 151 days on market in Mar 2024, up by 238.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49331 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 8 homes were sold in 49331; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
