Is Portage Township, 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, Portage Township has remained a Seller's Market.
Key Takeaway
Portage Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portage Township, MI
How much do homes in Portage Township, MI cost?
Median Sold Price
$270,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Portage Township have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Portage Township was $270,000 in April 2024, up 2.9% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $98.5K | $95K | -3.6% |
| 2 Bedrooms | $177K | $200K | +13.0% |
| 3 Bedrooms | $245K | $245K | 0.0% |
| 4 Bedrooms | $325K | $326.2K | 0.4% |
| 5+ Bedrooms | $525K | $398.5K | -24.1% |
Summary: Portage Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.6%, 2 bedroom homes increased by 13%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes decreased by 24.1%.
Housing Supply in Portage Township, MI
How many homes are available in Portage Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 128 | 154 | +20.3% |
Summary: The Portage Township real estate market had 154 homes for sale in April 2024, a 20.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 11 | 17 | +54.5% |
| 3 Bedrooms | 60 | 69 | +15.0% |
| 4 Bedrooms | 39 | 57 | +46.2% |
| 5+ Bedrooms | 17 | 11 | -35.3% |
Summary: The Portage Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 54.5%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes decreased by 35.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 41 | +17.1% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portage Township, you could pay more than the asking price. 41.5% of homes here sold above asking price last month.
Summary: A total of 41 homes were sold or pending in Portage Township in April 2024, up by 17.1% month-over-month. Of the 41 sold homes, 39% were sold under asking, 20% were sold at asking, and 41% were sold over asking.
Days on Market for Portage Township, MI
How long does it take to sell a home in Portage Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 38 Days | 25 Days | -34.0% |
Summary: Homes in Portage Township had an average of 25 days on market in Apr 2024, down by 34% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portage Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 41 homes were sold in Portage Township; 73% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 10% 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.