Is Kentwood, 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, Kentwood has remained a Seller's Market.
Housing Prices in Kentwood, MI
How much do homes in Kentwood, MI cost?
Median Sold Price
$305,000
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Kentwood was $305,000 in March 2024, up 5.2% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | $178K | +11.3% |
2 Bedrooms | $181K | $195K | +7.7% |
3 Bedrooms | $285K | $305K | +7.0% |
4 Bedrooms | $342K | $357.5K | +4.5% |
5+ Bedrooms | $415K | $476.6K | +14.8% |
Summary: Kentwood housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 14.8%.
Median Sold Price Compared To Nearby Cities
Grand Rapids | $260.2K | $299.2K | +15.0% |
Wyoming | $234.8K | $258.5K | +10.1% |
Gaines Charter Township | $338K | $360K | +6.5% |
Kentwood | $290K | $305K | +5.2% |
Cascade Charter Township | $535K | $520K | -2.8% |
Housing Supply in Kentwood, MI
How many homes are available in Kentwood, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
84 | 90 | +7.1% |
Summary: The Kentwood real estate market had 90 homes for sale in March 2024, a 7.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 12 | 12 | 0.0% |
3 Bedrooms | 47 | 44 | -6.4% |
4 Bedrooms | 18 | 26 | +44.4% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Kentwood 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 decreased by 6.4%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
27 | 30 | +11.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 30 homes were sold or pending in Kentwood in March 2024, up by 11.1% month-over-month. Of the 30 sold homes, 27% were sold under asking, 23% were sold at asking, and 50% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 21 Days | +26.1% |
Summary: Homes in Kentwood had an average of 21 days on market in Mar 2024, up by 26.1% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 30 homes were sold in Kentwood; 80% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.