Is Park Township, 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, Park Township has remained a Seller's Market.
Housing Prices in Park Township, MI
How much do homes in Park Township, MI cost?
Median Sold Price
$424,966
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Park Township was $424,966 in March 2024, up 6.3% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $1.7M | N/A |
2 Bedrooms | $272.4K | $287K | +5.3% |
3 Bedrooms | $357.5K | $375K | +4.9% |
4 Bedrooms | $412.5K | $450K | +9.1% |
5+ Bedrooms | $600K | $662.5K | +10.4% |
Summary: Park Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Cities
Holland | $291.3K | $335K | +15.0% |
Holland | $305K | $335K | +9.8% |
Holland Charter Township | $311K | $334.9K | +7.7% |
Park Township | $399.9K | $424.9K | +6.3% |
Housing Supply in Park Township, MI
How many homes are available in Park Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
51 | 62 | +21.6% |
Summary: The Park Township real estate market had 62 homes for sale in March 2024, a 21.6% 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 | 4 | 7 | +75.0% |
3 Bedrooms | 24 | 20 | -16.7% |
4 Bedrooms | 19 | 25 | +31.6% |
5+ Bedrooms | 4 | 10 | +150.0% |
Summary: The Park 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 75%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 31.6%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Park Township in March 2024, up by 14.3% month-over-month. Of the 16 sold homes, 44% were sold under asking, 31% were sold at asking, and 25% were sold over asking.
Days on Market for Park Township, MI
How long does it take to sell a home in Park Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 50 Days | +38.9% |
Summary: Homes in Park Township had an average of 50 days on market in Mar 2024, up by 38.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Park Township; 50% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.