Is 49504, 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, 49504 has remained a Seller's Market.
Key Takeaway
49504 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49504, MI
How much do homes in 49504, MI cost?
Median Sold Price
$275,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49504 have sold for 8% more than they did a year ago.
Summary: The median home sold price in 49504 was $275,000 in March 2024, up 8% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $217.4K | $249.9K | +14.9% |
| 2 Bedrooms | $220K | $249.9K | +13.6% |
| 3 Bedrooms | $257K | $275K | +7.0% |
| 4 Bedrooms | $260K | $285K | +9.6% |
| 5+ Bedrooms | $280K | $317.5K | +13.4% |
Summary: 49504 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 13.4%.
Housing Supply in 49504, MI
How many homes are available in 49504, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 83 | +12.2% |
Summary: The 49504 real estate market had 83 homes for sale in March 2024, a 12.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 19 | -20.8% |
| 3 Bedrooms | 28 | 43 | +53.6% |
| 4 Bedrooms | 20 | 18 | -10.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 49504 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 20.8%, 3 bedroom homes increased by 53.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49504, you could pay more than the asking price. 56% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in 49504 in March 2024, up by 8.7% month-over-month. Of the 25 sold homes, 24% were sold under asking, 20% were sold at asking, and 56% were sold over asking.
Days on Market for 49504, MI
How long does it take to sell a home in 49504, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 7 Days | 22 Days | +189.0% |
Summary: Homes in 49504 had an average of 22 days on market in Mar 2024, up by 189% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49504 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in 49504; 84% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
