Is Ravenna Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Ravenna Township has remained a Seller's Market.
Housing Prices in Ravenna Township, MI
How much do homes in Ravenna Township, MI cost?
Median Sold Price
$262,450
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Ravenna Township was $262,450 in February 2024, up 6% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $167.5K | - | N/A |
2 Bedrooms | $239K | $262.9K | +10.0% |
3 Bedrooms | $238K | $225.5K | -5.3% |
4 Bedrooms | $287.5K | $323.7K | +12.6% |
5+ Bedrooms | $331K | $280K | -15.4% |
Summary: Ravenna Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 15.4%.
Median Sold Price Compared To Nearby Cities
Ravenna | $246K | $260.9K | +6.1% |
Ravenna Township | $247.5K | $262.4K | +6.0% |
Chester Township | $308.5K | $255K | -17.3% |
Conklin | $323.5K | $255K | -21.2% |
Housing Supply in Ravenna Township, MI
How many homes are available in Ravenna Township, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Summary: The Ravenna Township real estate market had 10 homes for sale in February 2024, a 9.1% decrease compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 6 | 4 | -33.3% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Ravenna Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Ravenna Township in February 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Ravenna Township, MI
How long does it take to sell a home in Ravenna Township, MI?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
35 Days | 4 Days | -87.4% |
Summary: Homes in Ravenna Township had an average of 4 days on market in Feb 2024, down by 87.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During February 2024, 2 homes were sold in Ravenna Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.