Is Adrian, 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, Adrian has remained a Seller's Market.
Key Takeaway
Adrian is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Adrian, MI
How much do homes in Adrian, MI cost?
Median Sold Price
$184,666
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Adrian have sold for 15.4% more than they did a year ago.
Summary: The median home sold price in Adrian was $184,666 in April 2024, up 15.4% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $78.4K | $61.6K | -21.4% |
| 2 Bedrooms | $85K | $130K | +52.9% |
| 3 Bedrooms | $165K | $182K | +10.3% |
| 4 Bedrooms | $208.4K | $249.9K | +19.9% |
| 5+ Bedrooms | $216K | $185K | -14.4% |
Summary: Adrian housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.4%, 2 bedroom homes increased by 52.9%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes decreased by 14.4%.
Median Sold Price Compared To Nearby Cities
| Adrian | $160K | $184.6K | +15.4% |
| Madison Charter Township | $206K | $205.5K | -0.2% |
| Adrian Township | $219.7K | $184.6K | -16.0% |
Housing Supply in Adrian, MI
How many homes are available in Adrian, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 122 | 122 | 0.0% |
Summary: The Adrian real estate market had 122 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 16 | 14 | -12.5% |
| 3 Bedrooms | 60 | 59 | -1.7% |
| 4 Bedrooms | 38 | 40 | +5.3% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Adrian housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 34 | +6.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Adrian, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 34 homes were sold or pending in Adrian in April 2024, up by 6.3% month-over-month. Of the 34 sold homes, 47% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Adrian, MI
How long does it take to sell a home in Adrian, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 72 Days | 44 Days | -37.6% |
Summary: Homes in Adrian had an average of 44 days on market in Apr 2024, down by 37.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Adrian has remained consistent over time.
Summary: During April 2024, 34 homes were sold in Adrian; 35% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.