Is 49686, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 49686 was a Buyer's Market.
Key Takeaway
49686 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49686, MI
How much do homes in 49686, MI cost?
Median Sold Price
$397,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49686 have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in 49686 was $397,000 in April 2024, down 3.2% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.5K | $270K | -4.4% |
| 2 Bedrooms | $309.5K | $305K | -1.5% |
| 3 Bedrooms | $450K | $389K | -13.6% |
| 4 Bedrooms | $535K | $665K | +24.3% |
| 5+ Bedrooms | $580K | $1.2M | +119.8% |
Summary: 49686 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.4%, 2 bedroom homes decreased by 1.5%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 119.8%.
Housing Supply in 49686, MI
How many homes are available in 49686, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 102 | 119 | +16.7% |
Summary: The 49686 real estate market had 119 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 9 | -25.0% |
| 2 Bedrooms | 36 | 42 | +16.7% |
| 3 Bedrooms | 30 | 37 | +23.3% |
| 4 Bedrooms | 17 | 22 | +29.4% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The 49686 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 31 | +24.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49686, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 31 homes were sold or pending in 49686 in April 2024, up by 24.0% month-over-month. Of the 30 sold homes, 53% were sold under asking, 20% were sold at asking, and 27% were sold over asking.
Days on Market for 49686, MI
How long does it take to sell a home in 49686, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 92 Days | 65 Days | -28.8% |
Summary: Homes in 49686 had an average of 65 days on market in Apr 2024, down by 28.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 49686 has remained consistent over time.
Summary: During April 2024, 31 homes were sold in 49686; 32% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.