Is Ludington, 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, Ludington has remained a Seller's Market.
Key Takeaway
Ludington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ludington, MI
How much do homes in Ludington, MI cost?
Median Sold Price
$295,000
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ludington have sold for 18% more than they did a year ago.
Summary: The median home sold price in Ludington was $295,000 in March 2024, up 18% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $215K | $209K | -2.8% |
| 2 Bedrooms | $237.4K | $268K | +12.9% |
| 3 Bedrooms | $243K | $279.5K | +15.0% |
| 4 Bedrooms | $285K | $349K | +22.5% |
| 5+ Bedrooms | $465K | $450K | -3.2% |
Summary: Ludington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes decreased by 3.2%.
Housing Supply in Ludington, MI
How many homes are available in Ludington, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 54 | 56 | +3.7% |
Summary: The Ludington real estate market had 56 homes for sale in March 2024, a 3.7% 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 | 8 | 9 | +12.5% |
| 3 Bedrooms | 25 | 26 | +4.0% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Ludington 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 increased by 12.5%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ludington, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Ludington in March 2024, up by 11.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Ludington, MI
How long does it take to sell a home in Ludington, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 31 Days | -56.9% |
Summary: Homes in Ludington had an average of 31 days on market in Mar 2024, down by 56.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ludington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Ludington; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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