Is Armada, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Armada is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Armada was a Buyer's Market.

Key Takeaway

Armada is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices

How much do homes in Armada, MI cost?

Median Sold Price

$304,000

$162/sqft

Based on all homes sold in August 2023.

Difference Since Last Month

+$149,000(+96.1%)

Key Takeaway

Homes in Armada have sold for 96.1% more than they did a month ago.

Summary: The median home sold price in Armada was $304,000 in August 2023, up 96.1% from last month, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 --
N/A
2 -$245K
N/A
3 $155K$374.2K
+141.4%
4 -$334.5K
N/A
5+ --
N/A

Summary: Armada housing prices by bedroom type for August 2023 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 141.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Armada
+96.1%
Armada Township
+96.1%

Housing Supply

How many homes are available in Armada, MI?

Number of Homes For Sale

Jul 2023Aug 2023CHANGE
1112+9.1%

Summary: The Armada real estate market had 12 homes for sale in August 2023, a 9.1% increase compared to July 2023.

Homes For Sale By Bedroom Count

# BEDSJul 2023Aug 2023CHANGE
1 00
0.0%
2 11
0.0%
3 56
+20.0%
4 55
0.0%
5+ 00
0.0%

Summary: The Armada housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jul 2023Aug 2023CHANGE
15+400.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Armada, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Armada in August 2023, up by 400.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market

How long does it take to sell a home in Armada, MI?

Average Sale Time

Jul 2023Aug 2023CHANGE
18 Days8 Days-51.1%

Summary: Homes in Armada had an average of 8 days on market in Aug 2023, down by 51.1% compared to last month.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Armada are selling fast, if you're buying plan to act quickly.

Summary: During August 2023, 5 homes were sold in Armada; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 26 Days Ago

Newest Listings

Nearby Markets