$5,332 Closing Credit*
$449,000
1,167 SqFt
1 Bed
•1 Full Bath, 1 Partial
Lian Kollin, Listing Office: The Agency Hall & Hunter
Is Downtown, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Downtown was a Neutral Market.
Key Takeaway
Downtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown, MI
How much do homes in Downtown, MI cost?
Median Sold Price
$299,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$1,000(-0.3%)
Key Takeaway
The sold price of homes in Downtown has remained the same since last year.
Summary: The median home sold price in Downtown was $299,000 in September 2024, down 0.3% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $255K | $213.2K | -16.4% |
| 2 Bedrooms | $357.5K | $360K | +0.7% |
| 3 Bedrooms | $335K | $424.7K | +26.8% |
| 4 Bedrooms | $299.5K | $150K | -49.9% |
| 5+ Bedrooms | $356.2K | $275K | -22.8% |
Summary: Downtown housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.4%, 2 bedroom homes increased by 0.7%, 3 bedroom homes increased by 26.8%, 4 bedroom homes decreased by 49.9%, and 5+ bedroom homes decreased by 22.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Brush Park | $490K | $589.5K | +20.3% |
| Downtown | $300K | $299K | -0.3% |
| Lafayette Park | $200K | $110K | -45.0% |
Housing Supply in Downtown, MI
How many homes are available in Downtown, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 199 | 215 | +8.0% |
Summary: The Downtown real estate market had 215 homes for sale in September 2024, a 8.0% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 46 | 49 | +6.5% |
| 2 Bedrooms | 87 | 92 | +5.7% |
| 3 Bedrooms | 41 | 48 | +17.1% |
| 4 Bedrooms | 23 | 21 | -8.7% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Downtown housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 17.1%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 25 | 17 | -32.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown, you may be able to get a good deal. 64.7% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Downtown in September 2024, down by 32.0% month-over-month. Of the 17 sold homes, 65% were sold under asking, 29% were sold at asking, and 6% were sold over asking.
Days on Market for Downtown, MI
How long does it take to sell a home in Downtown, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 88 Days | 49 Days | -43.9% |
Summary: Homes in Downtown had an average of 49 days on market in Sep 2024, down by 43.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown has remained consistent over time.
Summary: During September 2024, 17 homes were sold in Downtown; 35% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
