Is Coloma, 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, Coloma has remained a Seller's Market.
Key Takeaway
Coloma is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Coloma, MI
How much do homes in Coloma, MI cost?
Median Sold Price
$249,900
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Coloma have sold for 35.1% more than they did a year ago.
Summary: The median home sold price in Coloma was $249,900 in March 2024, up 35.1% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142K | - | N/A |
| 2 Bedrooms | $161.6K | $220K | +36.1% |
| 3 Bedrooms | $183K | $249.9K | +36.6% |
| 4 Bedrooms | $284.9K | $299.9K | +5.2% |
| 5+ Bedrooms | $280K | $359.8K | +28.5% |
Summary: Coloma 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 36.1%, 3 bedroom homes increased by 36.6%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 28.5%.
Median Sold Price Compared To Nearby Cities
| Coloma | $185K | $249.9K | +35.1% |
| Coloma Charter Township | $208.7K | $249.9K | +19.7% |
Housing Supply in Coloma, MI
How many homes are available in Coloma, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 40 | +25.0% |
Summary: The Coloma real estate market had 40 homes for sale in March 2024, a 25.0% 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 | 11 | 12 | +9.1% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Coloma 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 9.1%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Coloma, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Coloma in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 22% were sold at asking, and 0% were sold over asking.
Days on Market for Coloma, MI
How long does it take to sell a home in Coloma, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 62 Days | 35 Days | -43.4% |
Summary: Homes in Coloma had an average of 35 days on market in Mar 2024, down by 43.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Coloma are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Coloma; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
