Is 49508, 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, 49508 has remained a Seller's Market.
Housing Prices in 49508, MI
How much do homes in 49508, MI cost?
Median Sold Price
$315,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 49508 was $315,000 in March 2024, up 8.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $129.9K | $135.1K | +4.0% |
2 Bedrooms | $210K | $207.5K | -1.2% |
3 Bedrooms | $285K | $305K | +7.0% |
4 Bedrooms | $318.5K | $349.9K | +9.9% |
5+ Bedrooms | $352.5K | $375K | +6.4% |
Summary: 49508 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 6.4%.
Housing Supply in 49508, MI
How many homes are available in 49508, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
52 | 63 | +21.2% |
Summary: The 49508 real estate market had 63 homes for sale in March 2024, a 21.2% 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 | 12 | +50.0% |
3 Bedrooms | 26 | 24 | -7.7% |
4 Bedrooms | 15 | 22 | +46.7% |
5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 49508 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 increased by 50%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 46.7%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 19 | +11.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in 49508 in March 2024, up by 11.8% month-over-month. Of the 19 sold homes, 32% were sold under asking, 26% were sold at asking, and 42% were sold over asking.
Days on Market for 49508, MI
How long does it take to sell a home in 49508, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
8 Days | 31 Days | +258.7% |
Summary: Homes in 49508 had an average of 31 days on market in Mar 2024, up by 258.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 19 homes were sold in 49508; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.