Is Palmer Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Palmer Park has remained a Seller's Market.
Housing Prices in Palmer Park, MI
How much do homes in Palmer Park, MI cost?
Median Sold Price
$300,500
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Palmer Park was $300,500 in April 2024, down 8.9% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $205K | $176K | -14.1% |
3 Bedrooms | $240K | $255K | +6.3% |
4 Bedrooms | $367.5K | $372.5K | +1.4% |
5+ Bedrooms | $400K | $450K | +12.5% |
Summary: Palmer Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 14.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Neighborhoods
Green Acres | $187K | $255K | +36.4% |
University District | $330K | $320.5K | -2.9% |
Palmer Park | $330K | $300.5K | -8.9% |
Housing Supply in Palmer Park, MI
How many homes are available in Palmer Park, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 25 | -10.7% |
Summary: The Palmer Park real estate market had 25 homes for sale in April 2024, a 10.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 6 | 3 | -50.0% |
4 Bedrooms | 8 | 7 | -12.5% |
5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The Palmer Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Palmer Park in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Palmer Park, MI
How long does it take to sell a home in Palmer Park, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
10 Days | 47 Days | +378.0% |
Summary: Homes in Palmer Park had an average of 47 days on market in Apr 2024, up by 378% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Palmer Park; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.