Is 49685, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, 49685 has remained a Seller's Market.
Key Takeaway
49685 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49685, MI
How much do homes in 49685, MI cost?
Median Sold Price
$356,000
$222/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in 49685 have sold for 13.9% more than they did a month ago.
Summary: The median home sold price in 49685 was $356,000 in March 2024, up 13.9% from last month, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $285.7K | N/A |
| 3 Bedrooms | $284.5K | $372K | +30.8% |
| 4 Bedrooms | $430K | $512K | +19.1% |
| 5+ Bedrooms | - | $206.2K | N/A |
Summary: 49685 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 30.8%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes did not change.
Housing Supply in 49685, MI
How many homes are available in 49685, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 80 | +14.3% |
Summary: The 49685 real estate market had 80 homes for sale in March 2024, a 14.3% 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 | 8 | 12 | +50.0% |
| 3 Bedrooms | 40 | 44 | +10.0% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 49685 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 increased by 10%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49685, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 16 homes were sold or pending in 49685 in March 2024, up by 14.3% month-over-month. Of the 16 sold homes, 31% were sold under asking, 38% were sold at asking, and 31% were sold over asking.
Days on Market for 49685, MI
How long does it take to sell a home in 49685, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 44 Days | -38.0% |
Summary: Homes in 49685 had an average of 44 days on market in Mar 2024, down by 38% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 49685 has remained consistent over time.
Summary: During March 2024, 16 homes were sold in 49685; 31% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
