Is Paw Paw, 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, Paw Paw has remained a Seller's Market.
Key Takeaway
Paw Paw is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Paw Paw, MI
How much do homes in Paw Paw, MI cost?
Median Sold Price
$233,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Paw Paw have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Paw Paw was $233,000 in April 2024, up 8.4% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $211K | $252.5K | +19.7% |
| 2 Bedrooms | $155K | $195K | +25.8% |
| 3 Bedrooms | $212.1K | $225K | +6.0% |
| 4 Bedrooms | $303K | $307.5K | +1.5% |
| 5+ Bedrooms | $281.1K | $374.9K | +33.4% |
Summary: Paw Paw housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.7%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 33.4%.
Median Sold Price Compared To Nearby Cities
| Paw Paw | $215K | $233K | +8.4% |
| Paw Paw Township | $220K | $233.6K | +6.2% |
| Antwerp Township | $290K | $295K | +1.7% |
Housing Supply in Paw Paw, MI
How many homes are available in Paw Paw, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 31 | 35 | +12.9% |
Summary: The Paw Paw real estate market had 35 homes for sale in April 2024, a 12.9% increase 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 | 6 | 3 | -50.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 11 | 17 | +54.5% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Paw Paw 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 decreased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 54.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Paw Paw, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Paw Paw in April 2024, down by 45.5% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Paw Paw, MI
How long does it take to sell a home in Paw Paw, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 9 Days | 50 Days | +463.0% |
Summary: Homes in Paw Paw had an average of 50 days on market in Apr 2024, up by 463% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Paw Paw has remained consistent over time.
Summary: During April 2024, 6 homes were sold in Paw Paw; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% 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.