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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Riverview is a seller's market

Buyer's
Market

Difference Since November 2021

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

Key Takeaway

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

How much do homes in Riverview, MI cost?

Median Sold Price

$200,000

$145/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$22,000(+12.4%)

Key Takeaway

Homes in Riverview have sold for 12.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 --
N/A
2 $165K$173.5K
+5.2%
3 $159K$176.5K
+11.0%
4 $282K$295K
+4.6%
5+ $368K$329.9K
-10.4%

Median Sold Price Compared To Nearby Cities

Riverview
+12.4%
Grosse Ile Township
+11.6%
Southgate
+9.3%
Wyandotte
+6.5%
Trenton
+3.0%

How many homes are available in Riverview, MI?

Number of Homes For Sale

Oct 2022Nov 2022%
3829-23.7%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 00
0.0%
2 85
-37.5%
3 1611
-31.3%
4 1111
0.0%
5+ 32
-33.3%

Number of Homes Sold

Oct 2022Nov 2022%
169-43.8%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Riverview, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

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

About Riverview, MI

Riverview, MI has 29 homes on the market. The number of listings in Riverview, MI decreased by 23.7% between October 2022 and November 2022. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties prices increased by 0%, 2 bedrooms properties prices increased by 5.2%, the cost of 3 bedrooms properties went up by 11%, 4 bedrooms properties became 4.6% more expensive, 5 bedrooms properties prices decreased by 10.4%. Housing inventory have changed in this real estate market: number of 1 bedroom homes remained the same, 2 bedrooms homes became 37.5% less available, the quantity of 3 bedrooms homes went down by 31.3%, 4 bedrooms homes inventory did not change, the quantity of 5 bedrooms homes went down by 33.3%. Over 2 listings were sold over their listed price in November 2022 in Riverview, MI. In the same period over 4 listings were sold below the listed price and 3 listings were sold for the listed price.

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