Is 49506, 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, 49506 has remained a Seller's Market.
Housing Prices in 49506, MI
How much do homes in 49506, MI cost?
Median Sold Price
$400,833
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 49506 was $400,833 in March 2024, up 8.4% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $215.4K | $165K | -23.4% |
2 Bedrooms | $213K | $300K | +40.8% |
3 Bedrooms | $324.5K | $337.5K | +4.0% |
4 Bedrooms | $431.5K | $536.5K | +24.3% |
5+ Bedrooms | $775K | $852.4K | +10.0% |
Summary: 49506 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.4%, 2 bedroom homes increased by 40.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 10%.
Housing Supply in 49506, MI
How many homes are available in 49506, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
74 | 75 | +1.4% |
Summary: The 49506 real estate market had 75 homes for sale in March 2024, a 1.4% 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 | 8 | 7 | -12.5% |
3 Bedrooms | 33 | 35 | +6.1% |
4 Bedrooms | 25 | 23 | -8.0% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The 49506 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 12.5%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 33 | +22.2% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in 49506 in March 2024, up by 22.2% month-over-month. Of the 33 sold homes, 33% were sold under asking, 21% were sold at asking, and 45% were sold over asking.
Days on Market for 49506, MI
How long does it take to sell a home in 49506, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
15 Days | 11 Days | -23.7% |
Summary: Homes in 49506 had an average of 11 days on market in Mar 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 33 homes were sold in 49506; 88% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.