Is Ravenna, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ravenna is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, Ravenna has remained a Seller's Market.

Key Takeaway

Ravenna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Ravenna, MI cost?

Median Sold Price

$225,000

$132/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$86,000(+61.9%)

Key Takeaway

Homes in Ravenna have sold for 61.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 --
N/A
2 $134K$165K
+23.1%
3 $152K$220K
+44.7%
4 $95K$255K
+168.4%
5+ $210K$470K
+123.8%

Median Sold Price Compared To Nearby Cities

Ravenna
+61.9%
Ravenna Township
+36.4%

How many homes are available in Ravenna, MI?

Number of Homes For Sale

Apr 2022May 2022%
58+60.0%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 00
0.0%
2 24
+100.0%
3 33
0.0%
4 01
+100.0%
5+ 00
0.0%

Number of Homes Sold

Apr 2022May 2022%
03+100.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ravenna, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Ravenna, MI

Ravenna, MI has 8 homes on the market. The inventory of homes for sale in Ravenna, MI between April 2022 and May 2022 increased by 60%. Listing prices have changed in this real estate market between April 2022 and May 2022: the cost of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties increased by 23.1%, 3 bedrooms properties prices increased by 44.7%, prices of 4 bedrooms properties went up by 168.4%, prices of 5 bedrooms properties increased by 123.8%. Housing inventory have changed in this real estate market: the quantity of 1 bedroom homes have not changed, 2 bedrooms homes inventory increased by 100%, 3 bedrooms homes did not move, volume of 4 bedrooms homes went up by 100%, 5 bedrooms homes inventory did not change. In May 2022 more than 3 listings in Ravenna, MI were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 0 were sold below.