Is Portage, 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, Portage has remained a Seller's Market.
Housing Prices in Portage, MI
How much do homes in Portage, MI cost?
Median Sold Price
$260,600
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Portage was $260,600 in March 2024, down 1.6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75.7K | $95K | +25.4% |
2 Bedrooms | $174.9K | $189.2K | +8.1% |
3 Bedrooms | $240K | $241.3K | +0.6% |
4 Bedrooms | $325K | $326K | 0.3% |
5+ Bedrooms | $430K | $402K | -6.5% |
Summary: Portage housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.4%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
Kalamazoo | $185.1K | $220.1K | +18.9% |
Comstock Charter Township | $235K | $269.9K | +14.9% |
Pavilion Township | $272.5K | $305K | +11.9% |
Scotts | $299K | $309.2K | +3.4% |
Portage | $264.7K | $260.6K | -1.6% |
Housing Supply in Portage, MI
How many homes are available in Portage, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
112 | 122 | +8.9% |
Summary: The Portage real estate market had 122 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 17 | 16 | -5.9% |
3 Bedrooms | 50 | 55 | +10.0% |
4 Bedrooms | 31 | 37 | +19.4% |
5+ Bedrooms | 14 | 13 | -7.1% |
Summary: The Portage housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
40 | 34 | -15.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in Portage in March 2024, down by 15.0% month-over-month. Of the 34 sold homes, 41% were sold under asking, 26% were sold at asking, and 32% were sold over asking.
Days on Market for Portage, MI
How long does it take to sell a home in Portage, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
29 Days | 27 Days | -8.2% |
Summary: Homes in Portage had an average of 27 days on market in Mar 2024, down by 8.2% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in Portage; 68% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.