Is Kentwood, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Kentwood has remained a Seller's Market.
Housing Prices in Kentwood, MI
How much do homes in Kentwood, MI cost?
Median Sold Price
$308,750
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Kentwood was $308,750 in April 2024, up 6.2% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $155.5K | $185K | +18.9% |
2 Bedrooms | $184.5K | $195.2K | +5.8% |
3 Bedrooms | $285.3K | $306K | +7.2% |
4 Bedrooms | $347K | $360K | +3.7% |
5+ Bedrooms | $415K | $463.3K | +11.6% |
Summary: Kentwood housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.9%, 2 bedroom homes increased by 5.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
Grand Rapids | $262.2K | $300K | +14.4% |
Wyoming | $235K | $260K | +10.6% |
Kentwood | $290.8K | $308.7K | +6.2% |
Gaines Charter Township | $340K | $361K | +6.2% |
Cascade Charter Township | $530K | $531.2K | 0.2% |
Housing Supply in Kentwood, MI
How many homes are available in Kentwood, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
95 | 118 | +24.2% |
Summary: The Kentwood real estate market had 118 homes for sale in April 2024, a 24.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 20 | +66.7% |
3 Bedrooms | 49 | 51 | +4.1% |
4 Bedrooms | 28 | 39 | +39.3% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Kentwood housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 39.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
35 | 33 | -5.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in Kentwood in April 2024, down by 5.7% month-over-month. Of the 33 sold homes, 12% were sold under asking, 39% were sold at asking, and 48% were sold over asking.
Days on Market for Kentwood, MI
How long does it take to sell a home in Kentwood, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
44 Days | 19 Days | -57.5% |
Summary: Homes in Kentwood had an average of 19 days on market in Apr 2024, down by 57.5% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in Kentwood; 85% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.