Is 49505, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 49505 has remained a Seller's Market.
Housing Prices in 49505, MI
How much do homes in 49505, MI cost?
Median Sold Price
$279,833
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in 49505 was $279,833 in February 2024, up 9.7% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | - | N/A |
2 Bedrooms | $223.5K | $245K | +9.6% |
3 Bedrooms | $260.5K | $283K | +8.6% |
4 Bedrooms | $259.9K | $307.5K | +18.3% |
5+ Bedrooms | $359.9K | $320K | -11.1% |
Summary: 49505 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes decreased by 11.1%.
Housing Supply in 49505, MI
How many homes are available in 49505, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
60 | 53 | -11.7% |
Summary: The 49505 real estate market had 53 homes for sale in February 2024, a 11.7% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 10 | -33.3% |
3 Bedrooms | 32 | 25 | -21.9% |
4 Bedrooms | 12 | 15 | +25.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 49505 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 21.9%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
26 | 18 | -30.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in 49505 in February 2024, down by 30.8% month-over-month. Of the 18 sold homes, 28% were sold under asking, 11% were sold at asking, and 61% were sold over asking.
Days on Market for 49505, MI
How long does it take to sell a home in 49505, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
11 Days | 24 Days | +112.4% |
Summary: Homes in 49505 had an average of 24 days on market in Feb 2024, up by 112.4% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 18 homes were sold in 49505; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.