Is Southwest, 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, Southwest has remained a Seller's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, MI
How much do homes in Southwest, MI cost?
Median Sold Price
$200,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Southwest have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Southwest was $200,000 in April 2024, up 8.1% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $140K | $150K | +7.1% |
| 3 Bedrooms | $185K | $204K | +10.3% |
| 4 Bedrooms | $250K | $219K | -12.4% |
| 5+ Bedrooms | $200K | $255K | +27.5% |
Summary: Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 12.4%, and 5+ bedroom homes increased by 27.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Duvall / Edison | $214K | $248.9K | +16.3% |
| Southwest | $185K | $200K | +8.1% |
| Snow Woods | $207.6K | $224.5K | +8.1% |
| Crestview | $215K | $215K | 0.0% |
Housing Supply in Southwest, MI
How many homes are available in Southwest, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Summary: The Southwest real estate market had 19 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest 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 5.9%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Southwest in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Southwest, MI
How long does it take to sell a home in Southwest, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 4 Days | -28.6% |
Summary: Homes in Southwest had an average of 4 days on market in Apr 2024, down by 28.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Southwest; 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.
