Is East Riverside, 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, East Riverside was a Seller's Market.
Key Takeaway
East Riverside is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in East Riverside, MI
How much do homes in East Riverside, MI cost?
Median Sold Price
$150,000
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Riverside have sold for 13% less than they did a year ago.
Summary: The median home sold price in East Riverside was $150,000 in April 2024, down 13% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $98K | - | N/A |
| 2 Bedrooms | $46.5K | $156.2K | +236.0% |
| 3 Bedrooms | $175K | $142.5K | -18.6% |
| 4 Bedrooms | $265K | $200K | -24.5% |
| 5+ Bedrooms | $154K | $197.4K | +28.2% |
Summary: East Riverside housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 236%, 3 bedroom homes decreased by 18.6%, 4 bedroom homes decreased by 24.5%, and 5+ bedroom homes increased by 28.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Jefferson Chalmers | $154.5K | $145K | -6.1% |
| East Riverside | $172.4K | $150K | -13.0% |
Housing Supply in East Riverside, MI
How many homes are available in East Riverside, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 37 | 36 | -2.7% |
Summary: The East Riverside real estate market had 36 homes for sale in April 2024, a 2.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 24 | 21 | -12.5% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The East Riverside 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East Riverside, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in East Riverside in April 2024, up by 100.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for East Riverside, MI
How long does it take to sell a home in East Riverside, MI?
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Riverside are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in East Riverside; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.