Is Muskegon Heights, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Muskegon Heights is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Muskegon Heights was a Seller's Market.

Key Takeaway

Muskegon Heights 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 Muskegon Heights, MI

How much do homes in Muskegon Heights, MI cost?

Median Sold Price

$84,847

$88/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$19,847(+30.5%)

Key Takeaway

Homes in Muskegon Heights have sold for 30.5% more than they did a year ago.

Summary: The median home sold price in Muskegon Heights was $84,847 in September 2024, up 30.5% from last year, and the median price per square foot was $88.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $26K$45K
+73.1%
2 $58.9K$75K
+27.2%
3 $73K$100.9K
+38.3%
4 $102.5K$125K
+22.0%
5+ $138K$161K
+16.7%

Summary: Muskegon Heights housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.1%, 2 bedroom homes increased by 27.2%, 3 bedroom homes increased by 38.3%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 16.7%.

Median Sold Price Compared To Nearby Cities

Muskegon Heights
+30.5%
Norton Shores
+12.5%
Muskegon
+8.3%
Muskegon Charter Township
+7.5%

Housing Supply in Muskegon Heights, MI

How many homes are available in Muskegon Heights, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5762+8.8%

Summary: The Muskegon Heights real estate market had 62 homes for sale in September 2024, a 8.8% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 30
-100.0%
2 2328
+21.7%
3 2829
+3.6%
4 24
+100.0%
5+ 11
0.0%

Summary: The Muskegon Heights housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 21.7%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
119-18.2%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Muskegon Heights, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Muskegon Heights in September 2024, down by 18.2% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.

Days on Market for Muskegon Heights, MI

How long does it take to sell a home in Muskegon Heights, MI?

Average Sale Time

Sep 2023Sep 2024CHANGE
29 Days37 Days+28.0%

Summary: Homes in Muskegon Heights had an average of 37 days on market in Sep 2024, up by 28% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 9 homes were sold in Muskegon Heights; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% 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 30 Days Ago

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