Is Big Rapids, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Big Rapids was a Seller's Market.
Housing Prices in Big Rapids, MI
How much do homes in Big Rapids, MI cost?
Median Sold Price
$205,333
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Big Rapids was $205,333 in March 2024, up 24.4% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $98.5K | $145K | +47.2% |
2 Bedrooms | $130K | $172.5K | +32.7% |
3 Bedrooms | $160.8K | $198.9K | +23.7% |
4 Bedrooms | $225.2K | $225K | -0.1% |
5+ Bedrooms | $219.9K | $332K | +51.0% |
Summary: Big Rapids housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.2%, 2 bedroom homes increased by 32.7%, 3 bedroom homes increased by 23.7%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes increased by 51%.
Median Sold Price Compared To Nearby Cities
Big Rapids | $165K | $205.3K | +24.4% |
Big Rapids Charter Township | $202.7K | $205K | +1.1% |
Housing Supply in Big Rapids, MI
How many homes are available in Big Rapids, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
62 | 69 | +11.3% |
Summary: The Big Rapids real estate market had 69 homes for sale in March 2024, a 11.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 25 | 25 | 0.0% |
4 Bedrooms | 19 | 23 | +21.1% |
5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Big Rapids 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 increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 10 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Big Rapids in March 2024, the same as the previous month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Big Rapids, MI
How long does it take to sell a home in Big Rapids, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 88 Days | +88.1% |
Summary: Homes in Big Rapids had an average of 88 days on market in Mar 2024, up by 88.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in Big Rapids; 50% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.