Is Berrien Springs, 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, Berrien Springs has remained a Seller's Market.
Key Takeaway
Berrien Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Berrien Springs, MI
How much do homes in Berrien Springs, MI cost?
Median Sold Price
$325,000
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Berrien Springs have sold for 30.5% more than they did a year ago.
Summary: The median home sold price in Berrien Springs was $325,000 in March 2024, up 30.5% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $161.5K | $179.5K | +11.1% |
| 3 Bedrooms | $190K | $258K | +35.8% |
| 4 Bedrooms | $265K | $415K | +56.6% |
| 5+ Bedrooms | $275.5K | $374K | +35.8% |
Summary: Berrien Springs 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 increased by 11.1%, 3 bedroom homes increased by 35.8%, 4 bedroom homes increased by 56.6%, and 5+ bedroom homes increased by 35.8%.
Median Sold Price Compared To Nearby Cities
| Berrien Township | $225K | $377.5K | +67.8% |
| Berrien Springs | $248.9K | $325K | +30.5% |
| Oronoko Charter Township | $265K | $278K | +4.9% |
Housing Supply in Berrien Springs, MI
How many homes are available in Berrien Springs, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Summary: The Berrien Springs real estate market had 17 homes for sale in March 2024, a 13.3% 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 | 2 | 1 | -50.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Berrien Springs 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Berrien Springs, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Berrien Springs in March 2024, up by 66.7% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Berrien Springs, MI
How long does it take to sell a home in Berrien Springs, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 59 Days | 203 Days | +242.3% |
Summary: Homes in Berrien Springs had an average of 203 days on market in Mar 2024, up by 242.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Berrien Springs are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in Berrien Springs; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 60% of homes were sold over 90 days.
