Is 49720, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 49720 was a Seller's Market.
Key Takeaway
49720 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 49720, MI
How much do homes in 49720, MI cost?
Median Sold Price
$325,000
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 49720 have sold for 16.6% less than they did a year ago.
Summary: The median home sold price in 49720 was $325,000 in March 2024, down 16.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.5K | $155K | -4.6% |
| 2 Bedrooms | $364K | $324.2K | -10.9% |
| 3 Bedrooms | $361.5K | $325K | -10.1% |
| 4 Bedrooms | $450K | $510K | +13.3% |
| 5+ Bedrooms | $1.0M | $674.5K | -32.6% |
Summary: 49720 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.6%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 10.1%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 32.6%.
Housing Supply in 49720, MI
How many homes are available in 49720, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 52 | +18.2% |
Summary: The 49720 real estate market had 52 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 7 | +250.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The 49720 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 250%, 2 bedroom homes increased by 11.1%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 7 | -41.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49720, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 49720 in March 2024, down by 41.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.
Days on Market for 49720, MI
How long does it take to sell a home in 49720, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 49720 has remained consistent over time.
Summary: During March 2024, 7 homes were sold in 49720; 0% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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