Is Adrian Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Adrian Township has remained a Seller's Market.
Key Takeaway
Adrian Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Adrian Township, MI
How much do homes in Adrian Township, MI cost?
Median Sold Price
$185,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Adrian Township have sold for 18.9% less than they did a year ago.
Summary: The median home sold price in Adrian Township was $185,000 in March 2024, down 18.9% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47K | $61.6K | +31.2% |
| 2 Bedrooms | $110K | $130K | +18.2% |
| 3 Bedrooms | $230K | $183K | -20.4% |
| 4 Bedrooms | $243.7K | $249.9K | +2.5% |
| 5+ Bedrooms | $352.5K | $230K | -34.8% |
Summary: Adrian Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 20.4%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes decreased by 34.8%.
Median Sold Price Compared To Nearby Cities
| Adrian | $157.1K | $185K | +17.7% |
| Franklin Township | $418.5K | $483K | +15.4% |
| Raisin Township | $253K | $270K | +6.7% |
| Adrian Township | $228K | $185K | -18.9% |
Housing Supply in Adrian Township, MI
How many homes are available in Adrian Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 100 | 122 | +22.0% |
Summary: The Adrian Township real estate market had 122 homes for sale in March 2024, a 22.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 11 | 17 | +54.5% |
| 3 Bedrooms | 54 | 59 | +9.3% |
| 4 Bedrooms | 29 | 39 | +34.5% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Adrian Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 32 | +28.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Adrian Township, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in Adrian Township in March 2024, up by 28.0% month-over-month. Of the 32 sold homes, 47% were sold under asking, 28% were sold at asking, and 25% were sold over asking.
Days on Market for Adrian Township, MI
How long does it take to sell a home in Adrian Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 54 Days | +12.6% |
Summary: Homes in Adrian Township had an average of 54 days on market in Mar 2024, up by 12.6% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Adrian Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in Adrian Township; 47% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 22% 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.