Is Central Business District, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Central Business District was a Seller's Market.
Housing Prices in Central Business District, MI
How much do homes in Central Business District, MI cost?
Median Sold Price
$220,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Central Business District was $220,000 in April 2024, down 19.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $258.5K | $240K | -7.2% |
2 Bedrooms | $275K | $330K | +20.0% |
3 Bedrooms | $179K | $124.9K | -30.2% |
4 Bedrooms | $100.5K | $135.9K | +35.2% |
5+ Bedrooms | $407.7K | $220K | -46.1% |
Summary: Central Business District housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.2%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 30.2%, 4 bedroom homes increased by 35.2%, and 5+ bedroom homes decreased by 46.1%.
Median Sold Price Compared To Nearby Neighborhoods
Edison | $114K | $120.7K | +5.9% |
Central Business District | $273K | $220K | -19.4% |
Housing Supply in Central Business District, MI
How many homes are available in Central Business District, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Summary: The Central Business District real estate market had 9 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 0 | 0 | 0.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Central Business District housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Central Business District in April 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Central Business District, MI
How long does it take to sell a home in Central Business District, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
7 Days | 20 Days | +185.7% |
Summary: Homes in Central Business District had an average of 20 days on market in Apr 2024, up by 185.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Central Business District; 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.