Is Fair Haven, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fair Haven is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Fair Haven was a Neutral Market.

Key Takeaway

Fair Haven is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Fair Haven, MI

How much do homes in Fair Haven, MI cost?

Median Sold Price

$275,000

$193/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$12,500(+4.8%)

Key Takeaway

Homes in Fair Haven have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in Fair Haven was $275,000 in March 2024, up 4.8% from last year, and the median price per square foot was $193.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $347.5K$235K
-32.4%
3 $250.2K$326.5K
+30.5%
4 $325K$300K
-7.7%
5+ -$190K
N/A

Summary: Fair Haven 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 decreased by 32.4%, 3 bedroom homes increased by 30.5%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

New Baltimore
+6.5%
Fair Haven
+4.8%
Ira Township
+4.8%

Housing Supply in Fair Haven, MI

How many homes are available in Fair Haven, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
79+28.6%

Summary: The Fair Haven real estate market had 9 homes for sale in March 2024, a 28.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 57
+40.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The Fair Haven 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 100%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fair Haven, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Fair Haven in March 2024, up by 100.0% month-over-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 Fair Haven, MI

How long does it take to sell a home in Fair Haven, MI?

Average Sale Time

Mar 2023Mar 2024CHANGE
49 Days21 Days-57.1%

Summary: Homes in Fair Haven had an average of 21 days on market in Mar 2024, down by 57.1% 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fair Haven are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 1 homes were sold in Fair Haven; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Fair Haven, MI

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