Is 49461, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 49461 was a Seller's Market.
Key Takeaway
49461 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 49461, MI
How much do homes in 49461, MI cost?
Median Sold Price
$304,900
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49461 have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in 49461 was $304,900 in March 2024, up 8.9% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $235K | $233K | -0.9% |
| 3 Bedrooms | $235.1K | $289.9K | +23.3% |
| 4 Bedrooms | $316.6K | $377.5K | +19.2% |
| 5+ Bedrooms | $477.5K | $495K | +3.7% |
Summary: 49461 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 3.7%.
Housing Supply in 49461, MI
How many homes are available in 49461, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 36 | 28 | -22.2% |
Summary: The 49461 real estate market had 28 homes for sale in March 2024, a 22.2% decrease 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 | 10 | 5 | -50.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 49461 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 50%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 4 | -76.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49461, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in 49461 in March 2024, down by 76.5% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for 49461, MI
How long does it take to sell a home in 49461, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 138 Days | 81 Days | -41.4% |
Summary: Homes in 49461 had an average of 81 days on market in Mar 2024, down by 41.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49461 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in 49461; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
