Is Newaygo, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Newaygo was a Seller's Market.
Housing Prices in Newaygo, MI
How much do homes in Newaygo, MI cost?
Median Sold Price
$247,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Newaygo was $247,000 in March 2024, up 8.8% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145K | $150.6K | +3.9% |
2 Bedrooms | $215K | $223K | +3.7% |
3 Bedrooms | $241.9K | $240K | -0.8% |
4 Bedrooms | $225K | $402.5K | +78.9% |
5+ Bedrooms | $195K | $314.9K | +61.5% |
Summary: Newaygo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.9%, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes increased by 78.9%, and 5+ bedroom homes increased by 61.5%.
Median Sold Price Compared To Nearby Cities
Garfield Township | $246K | $320K | +30.1% |
Newaygo | $227K | $247K | +8.8% |
Housing Supply in Newaygo, MI
How many homes are available in Newaygo, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
42 | 44 | +4.8% |
Summary: The Newaygo real estate market had 44 homes for sale in March 2024, a 4.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 16 | 13 | -18.8% |
3 Bedrooms | 18 | 21 | +16.7% |
4 Bedrooms | 3 | 5 | +66.7% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Newaygo 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 decreased by 18.8%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 5 | -64.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Newaygo in March 2024, down by 64.3% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Newaygo, MI
How long does it take to sell a home in Newaygo, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
5 Days | 34 Days | +545.0% |
Summary: Homes in Newaygo had an average of 34 days on market in Mar 2024, up by 545% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Newaygo; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.