Is Kent City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Kent City was a Seller's Market.
Key Takeaway
Kent City 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 Kent City, MI
How much do homes in Kent City, MI cost?
Median Sold Price
$295,000
$221/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Kent City have sold for 12.8% more than they did a year ago.
Summary: The median home sold price in Kent City was $295,000 in June 2024, up 12.8% from last year, and the median price per square foot was $221.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $72.5K | - | N/A |
| 2 Bedrooms | $195K | $206.5K | +5.9% |
| 3 Bedrooms | $247.9K | $309K | +24.6% |
| 4 Bedrooms | $329K | $305K | -7.3% |
| 5+ Bedrooms | $535.6K | $432.5K | -19.2% |
Summary: Kent City housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 24.6%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes decreased by 19.2%.
Median Sold Price Compared To Nearby Cities
| Kent City | $261.5K | $295K | +12.8% |
| Tyrone Township | $265K | $290K | +9.4% |
Housing Supply in Kent City, MI
How many homes are available in Kent City, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Summary: The Kent City real estate market had 18 homes for sale in June 2024, a 5.9% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Kent City housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kent City, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Kent City in June 2024, down by 57.1% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 7 Days | 14 Days | +92.3% |
Summary: Homes in Kent City had an average of 14 days on market in Jun 2024, up by 92.3% compared to last year.
Breakdown of Home Sale Times
3 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 June 2024, 3 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.
