Is Russell Woods, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Russell Woods has remained a Seller's Market.
Key Takeaway
Russell Woods is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Russell Woods, MI
How much do homes in Russell Woods, MI cost?
Median Sold Price
$264,900
$132/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Russell Woods have sold for 140.8% more than they did a month ago.
Summary: The median home sold price in Russell Woods was $264,900 in April 2024, up 140.8% from last month, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $110K | $252K | +129.1% |
| 4 Bedrooms | $265K | $264.9K | 0% |
| 5+ Bedrooms | $85K | - | N/A |
Summary: Russell Woods housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 129.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Russell Woods, MI
How many homes are available in Russell Woods, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Summary: The Russell Woods real estate market had 12 homes for sale in April 2024, a 25.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Russell Woods housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Russell Woods, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Russell Woods in April 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Russell Woods, MI
How long does it take to sell a home in Russell Woods, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 75 Days | 107 Days | +43.6% |
Summary: Homes in Russell Woods had an average of 107 days on market in Apr 2024, up by 43.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Russell Woods are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in Russell Woods; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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.