Is Butzel, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Butzel has remained a Buyer's Market.
Key Takeaway
Butzel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Butzel, MI
How much do homes in Butzel, MI cost?
Median Sold Price
$113,700
$76/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Butzel have sold for 43.1% less than they did a year ago.
Summary: The median home sold price in Butzel was $113,700 in April 2024, down 43.1% from last year, and the median price per square foot was $76.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $138K | -4.8% |
| 2 Bedrooms | $204.5K | $142.5K | -30.3% |
| 3 Bedrooms | $225K | $65K | -71.1% |
| 4 Bedrooms | $241K | $83K | -65.6% |
| 5+ Bedrooms | $275K | $307.9K | +12.0% |
Summary: Butzel housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 30.3%, 3 bedroom homes decreased by 71.1%, 4 bedroom homes decreased by 65.6%, and 5+ bedroom homes increased by 12%.
Median Sold Price Compared To Nearby Neighborhoods
| West Village | $404.5K | $384.9K | -4.8% |
| Indian Village | $226.2K | $139.9K | -38.2% |
| Butzel | $200K | $113.7K | -43.1% |
| Island View | $159K | $83K | -47.8% |
Housing Supply in Butzel, MI
How many homes are available in Butzel, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 41 | 49 | +19.5% |
Summary: The Butzel real estate market had 49 homes for sale in April 2024, a 19.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 10 | +100.0% |
| 2 Bedrooms | 10 | 12 | +20.0% |
| 3 Bedrooms | 13 | 15 | +15.4% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 7 | 4 | -42.9% |
Summary: The Butzel housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 42.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 3 | -70.0% |
Asking Price vs. Sold Price
2 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 Butzel, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Butzel in April 2024, down by 70.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Butzel, MI
How long does it take to sell a home in Butzel, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Butzel are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Butzel; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% 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.