Is Norton Shores, 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, Norton Shores has remained a Seller's Market.
Key Takeaway
Norton Shores is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norton Shores, MI
How much do homes in Norton Shores, MI cost?
Median Sold Price
$256,820
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Norton Shores have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Norton Shores was $256,820 in March 2024, up 7.3% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $138.7K | -25.0% |
| 2 Bedrooms | $168K | $185K | +10.1% |
| 3 Bedrooms | $234K | $250.5K | +7.1% |
| 4 Bedrooms | $300K | $303K | +1.0% |
| 5+ Bedrooms | $446K | $474.9K | +6.5% |
Summary: Norton Shores housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 10.1%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Muskegon Heights | $60K | $76.4K | +27.4% |
| Muskegon | $155K | $180K | +16.1% |
| Fruitport Charter Township | $270.1K | $297.8K | +10.3% |
| Norton Shores | $239.2K | $256.8K | +7.3% |
| Roosevelt Park | $210K | $219K | +4.3% |
Housing Supply in Norton Shores, MI
How many homes are available in Norton Shores, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 79 | 84 | +6.3% |
Summary: The Norton Shores real estate market had 84 homes for sale in March 2024, a 6.3% 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 | 17 | 16 | -5.9% |
| 3 Bedrooms | 37 | 38 | +2.7% |
| 4 Bedrooms | 19 | 23 | +21.1% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Norton Shores 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 5.9%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 32 | +100.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norton Shores, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.
Summary: A total of 32 homes were sold or pending in Norton Shores in March 2024, up by 100.0% month-over-month. Of the 32 sold homes, 34% were sold under asking, 38% were sold at asking, and 28% were sold over asking.
Days on Market for Norton Shores, MI
How long does it take to sell a home in Norton Shores, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 36 Days | +4.9% |
Summary: Homes in Norton Shores had an average of 36 days on market in Mar 2024, up by 4.9% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norton Shores are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 32 homes were sold in Norton Shores; 59% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.