Is 49408, 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, 49408 has remained a Seller's Market.
Housing Prices in 49408, MI
How much do homes in 49408, MI cost?
Median Sold Price
$350,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 49408 was $350,000 in March 2024, up 6.2% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $199K | +13.7% |
2 Bedrooms | $310K | $314.9K | +1.6% |
3 Bedrooms | $309.1K | $329.9K | +6.7% |
4 Bedrooms | $455K | $415K | -8.8% |
5+ Bedrooms | $595K | $465K | -21.8% |
Summary: 49408 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.7%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 21.8%.
Housing Supply in 49408, MI
How many homes are available in 49408, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 35 | +25.0% |
Summary: The 49408 real estate market had 35 homes for sale in March 2024, a 25.0% 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 | 3 | 6 | +100.0% |
3 Bedrooms | 13 | 17 | +30.8% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The 49408 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 100%, 3 bedroom homes increased by 30.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2 | 11 | +450.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in 49408 in March 2024, up by 450.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for 49408, MI
How long does it take to sell a home in 49408, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
93 Days | 30 Days | -67.3% |
Summary: Homes in 49408 had an average of 30 days on market in Mar 2024, down by 67.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in 49408; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.