Is Kent City, 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, Kent City has remained a Seller's Market.
Key Takeaway
Kent City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kent City, MI
How much do homes in Kent City, MI cost?
Median Sold Price
$284,900
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Kent City have sold for 1.8% more than they did a year ago.
Summary: The median home sold price in Kent City was $284,900 in March 2024, up 1.8% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $72.5K | - | N/A |
| 2 Bedrooms | $277.5K | $190K | -31.5% |
| 3 Bedrooms | $282.4K | $284.9K | +0.9% |
| 4 Bedrooms | $265K | $295K | +11.3% |
| 5+ Bedrooms | $400K | $625K | +56.3% |
Summary: Kent City 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 31.5%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 56.3%.
Median Sold Price Compared To Nearby Cities
| Tyrone Township | $280K | $287.4K | +2.7% |
| Kent City | $280K | $284.9K | +1.8% |
Housing Supply in Kent City, MI
How many homes are available in Kent City, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Summary: The Kent City real estate market had 8 homes for sale in March 2024, a 100.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 6 | +200.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Kent City 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Kent City, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Kent City in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Kent City, MI
How long does it take to sell a home in Kent City, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 10 Days | 10 Days | +1.6% |
Summary: Homes in Kent City had an average of 10 days on market in Mar 2024, up by 1.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kent City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Kent City; 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.
