Is 49507, 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, 49507 has remained a Seller's Market.
Housing Prices in 49507, MI
How much do homes in 49507, MI cost?
Median Sold Price
$230,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 49507 was $230,000 in March 2024, up 13.6% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $142.5K | +14.0% |
2 Bedrooms | $180K | $208K | +15.6% |
3 Bedrooms | $213K | $240.4K | +12.9% |
4 Bedrooms | $198K | $235.9K | +19.2% |
5+ Bedrooms | $220K | $240K | +9.1% |
Summary: 49507 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 9.1%.
Housing Supply in 49507, MI
How many homes are available in 49507, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
55 | 56 | +1.8% |
Summary: The 49507 real estate market had 56 homes for sale in March 2024, a 1.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 6 | 3 | -50.0% |
3 Bedrooms | 34 | 36 | +5.9% |
4 Bedrooms | 12 | 11 | -8.3% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 49507 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 20 | -16.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in 49507 in March 2024, down by 16.7% month-over-month. Of the 20 sold homes, 20% were sold under asking, 5% were sold at asking, and 75% were sold over asking.
Days on Market for 49507, MI
How long does it take to sell a home in 49507, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
12 Days | 16 Days | +31.9% |
Summary: Homes in 49507 had an average of 16 days on market in Mar 2024, up by 31.9% compared to last year.
Breakdown of Home Sale Times
16 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, 20 homes were sold in 49507; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.