Is Dowagiac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Dowagiac was a Seller's Market.
Housing Prices in Dowagiac, MI
How much do homes in Dowagiac, MI cost?
Median Sold Price
$179,900
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Dowagiac was $179,900 in February 2024, up 32.3% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $97.5K | $225K | +130.8% |
2 Bedrooms | $119.9K | $122.5K | +2.2% |
3 Bedrooms | $150K | $195K | +30.0% |
4 Bedrooms | $220.5K | $250K | +13.4% |
5+ Bedrooms | $400K | $252K | -37.0% |
Summary: Dowagiac housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 130.8%, 2 bedroom homes increased by 2.2%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes decreased by 37%.
Median Sold Price Compared To Nearby Cities
Dowagiac | $136K | $179.9K | +32.3% |
Pokagon Township | $184K | $230K | +25.0% |
Wayne Township | $157.9K | $160K | +1.3% |
LaGrange Township | $245K | $175K | -28.6% |
Housing Supply in Dowagiac, MI
How many homes are available in Dowagiac, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
64 | 57 | -10.9% |
Summary: The Dowagiac real estate market had 57 homes for sale in February 2024, a 10.9% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 11 | 0.0% |
3 Bedrooms | 31 | 27 | -12.9% |
4 Bedrooms | 13 | 13 | 0.0% |
5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Dowagiac housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 12.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
17 | 7 | -58.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Dowagiac in February 2024, down by 58.8% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Dowagiac, MI
How long does it take to sell a home in Dowagiac, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
49 Days | 58 Days | +18.4% |
Summary: Homes in Dowagiac had an average of 58 days on market in Feb 2024, up by 18.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During February 2024, 7 homes were sold in Dowagiac; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.