Is Norvell Township, 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, Norvell Township was a Seller's Market.
Key Takeaway
Norvell Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Norvell Township, MI
How much do homes in Norvell Township, MI cost?
Median Sold Price
$292,500
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Norvell Township have sold for 39.3% more than they did a year ago.
Summary: The median home sold price in Norvell Township was $292,500 in March 2024, up 39.3% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $191K | $168.5K | -11.8% |
| 2 Bedrooms | $155K | $261.2K | +68.5% |
| 3 Bedrooms | $274K | $260K | -5.1% |
| 4 Bedrooms | $265K | $425.7K | +60.7% |
| 5+ Bedrooms | $455K | $585K | +28.6% |
Summary: Norvell Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes increased by 68.5%, 3 bedroom homes decreased by 5.1%, 4 bedroom homes increased by 60.7%, and 5+ bedroom homes increased by 28.6%.
Median Sold Price Compared To Nearby Cities
| Norvell Township | $210K | $292.5K | +39.3% |
| Manchester Township | $291K | $324.9K | +11.6% |
| Tipton | $300K | $318K | +6.0% |
Housing Supply in Norvell Township, MI
How many homes are available in Norvell Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Summary: The Norvell Township real estate market had 17 homes for sale in March 2024, a 21.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Norvell Township 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 50%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norvell Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Norvell Township in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Norvell Township, MI
How long does it take to sell a home in Norvell Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 90 Days | 167 Days | +85.6% |
Summary: Homes in Norvell Township had an average of 167 days on market in Mar 2024, up by 85.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norvell Township has remained consistent over time.
Summary: During March 2024, 2 homes were sold in Norvell Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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.