Is Kent City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kent City is a seller's market

Buyer's
Market

Difference Since May 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

$295,000

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$37,000(+14.3%)

Key Takeaway

Homes in Kent City have sold for 14.3% more than they did a year ago.

Summary: The median home sold price in Kent City was $295,000 in May 2024, up 14.3% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $72.5K-
N/A
2 $200K$185K
-7.5%
3 $250K$309.5K
+23.8%
4 $330K$295K
-10.6%
5+ $400K$625K
+56.3%

Summary: Kent City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.5%, 3 bedroom homes increased by 23.8%, 4 bedroom homes decreased by 10.6%, and 5+ bedroom homes increased by 56.3%.

Median Sold Price Compared To Nearby Cities

Tyrone Township
+16.0%
Kent City
+14.3%

Housing Supply in Kent City, MI

How many homes are available in Kent City, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
1619+18.8%

Summary: The Kent City real estate market had 19 homes for sale in May 2024, a 18.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 13
+200.0%
3 1213
+8.3%
4 22
0.0%
5+ 11
0.0%

Summary: The Kent City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes increased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
16+500.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kent City, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Kent City in May 2024, up by 500.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% 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

May 2023May 2024CHANGE
10 Days13 Days+25.0%

Summary: Homes in Kent City had an average of 13 days on market in May 2024, up by 25% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 6 homes were sold in Kent City; 83% of homes were sold within 30 days, 17% 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 13 Days Ago

Newest Listings in Kent City, MI

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