Is Niles, 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, Niles has remained a Seller's Market.
Housing Prices in Niles, MI
How much do homes in Niles, MI cost?
Median Sold Price
$181,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Niles was $181,000 in March 2024, up 16.8% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $76K | $65K | -14.5% |
2 Bedrooms | $126K | $138.3K | +9.8% |
3 Bedrooms | $162K | $176.3K | +8.8% |
4 Bedrooms | $183K | $261.5K | +42.9% |
5+ Bedrooms | $291.5K | $520K | +78.4% |
Summary: Niles housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.5%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 78.4%.
Median Sold Price Compared To Nearby Cities
Niles | $155K | $181K | +16.8% |
Niles Township | $164.3K | $184.6K | +12.4% |
Howard Township | $222K | $187.9K | -15.3% |
Housing Supply in Niles, MI
How many homes are available in Niles, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
132 | 131 | -0.8% |
Summary: The Niles real estate market had 131 homes for sale in March 2024, a 0.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 27 | 28 | +3.7% |
3 Bedrooms | 58 | 61 | +5.2% |
4 Bedrooms | 30 | 25 | -16.7% |
5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Niles housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 5.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
31 | 36 | +16.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Niles in March 2024, up by 16.1% month-over-month. Of the 36 sold homes, 61% were sold under asking, 19% were sold at asking, and 19% were sold over asking.
Days on Market for Niles, MI
How long does it take to sell a home in Niles, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
45 Days | 80 Days | +78.2% |
Summary: Homes in Niles had an average of 80 days on market in Mar 2024, up by 78.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 36 homes were sold in Niles; 39% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.