Is 49688, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 49688 has remained a Seller's Market.
Key Takeaway
49688 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49688, MI
How much do homes in 49688, MI cost?
Median Sold Price
$175,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49688 have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in 49688 was $175,000 in April 2024, up 1.7% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $69.9K | $50.5K | -27.8% |
| 2 Bedrooms | $148.5K | $170K | +14.5% |
| 3 Bedrooms | $176K | $225K | +27.8% |
| 4 Bedrooms | $211.5K | $180K | -14.9% |
| 5+ Bedrooms | $475K | $62K | -86.9% |
Summary: 49688 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.8%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 27.8%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes decreased by 86.9%.
Housing Supply in 49688, MI
How many homes are available in 49688, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Summary: The 49688 real estate market had 12 homes for sale in April 2024, a 50.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The 49688 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49688, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in 49688 in April 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for 49688, MI
How long does it take to sell a home in 49688, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 21 Days | +425.0% |
Summary: Homes in 49688 had an average of 21 days on market in Apr 2024, up by 425% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49688 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in 49688; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
