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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Kent County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Kent County has remained a Seller's Market.

Key Takeaway

Kent County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Kent County, MI

How much do homes in Kent County, MI cost?

Median Sold Price

$317,973

$231/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$23,000(+7.8%)

Key Takeaway

Homes in Kent County have sold for 7.8% more than they did a year ago.

Summary: The median home sold price in Kent County was $317,973 in February 2024, up 7.8% from last year, and the median price per square foot was $231.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $200K$205K
+2.5%
2 $219.7K$233K
+6.1%
3 $272.2K$299.5K
+10.1%
4 $362.7K$380.1K
+4.8%
5+ $515.8K$549.7K
+6.6%

Summary: Kent County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 6.6%.

Median Sold Price Compared To Nearby Counties

Montcalm County
+12.2%
Newaygo County
+12.2%
Ionia County
+10.7%
Kent County
+7.8%

Housing Supply in Kent County, MI

How many homes are available in Kent County, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1,1801,172-0.7%

Summary: The Kent County real estate market had 1,172 homes for sale in February 2024, a 0.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 2422
-8.3%
2 231213
-7.8%
3 480484
+0.8%
4 324333
+2.8%
5+ 121120
-0.8%

Summary: The Kent County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 8.3%, 2 bedroom homes decreased by 7.8%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes decreased by 0.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
386365-5.4%

Asking Price vs. Sold Price

135 Homes Were Sold
Under Asking

70 Homes Were Sold
At Asking

160 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Kent County, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.

Summary: A total of 365 homes were sold or pending in Kent County in February 2024, down by 5.4% month-over-month. Of the 365 sold homes, 37% were sold under asking, 19% were sold at asking, and 44% were sold over asking.

Days on Market for Kent County, MI

How long does it take to sell a home in Kent County, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
30 Days33 Days+8.0%

Summary: Homes in Kent County had an average of 33 days on market in Feb 2024, up by 8% compared to last year.

Breakdown of Home Sale Times

243 Homes Were Sold
Under 30 Days

76 Homes Were Sold
In 30 - 90 Days

46 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 365 homes were sold in Kent County; 67% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 13% 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 28 Days Ago

Newest Listings in Kent County, MI

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