Is Belding, 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, Belding has remained a Seller's Market.
Key Takeaway
Belding is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Belding, MI
How much do homes in Belding, MI cost?
Median Sold Price
$215,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Belding have sold for 18.8% more than they did a year ago.
Summary: The median home sold price in Belding was $215,000 in March 2024, up 18.8% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $100K | N/A |
| 2 Bedrooms | $165K | $161K | -2.4% |
| 3 Bedrooms | $175K | $209K | +19.4% |
| 4 Bedrooms | $235K | $255K | +8.5% |
| 5+ Bedrooms | $300.5K | $378.5K | +26.0% |
Summary: Belding housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 19.4%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 26%.
Median Sold Price Compared To Nearby Cities
| Otisco Township | $215K | $278K | +29.3% |
| Belding | $181K | $215K | +18.8% |
Housing Supply in Belding, MI
How many homes are available in Belding, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 22 | 27 | +22.7% |
Summary: The Belding real estate market had 27 homes for sale in March 2024, a 22.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Belding housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Belding, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Belding in March 2024, up by 16.7% month-over-month. Of the 7 sold homes, 0% were sold under asking, 14% were sold at asking, and 86% were sold over asking.
Days on Market for Belding, MI
How long does it take to sell a home in Belding, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 16 Days | 5 Days | -69.3% |
Summary: Homes in Belding had an average of 5 days on market in Mar 2024, down by 69.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Belding are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Belding; 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.
