Is Thornapple Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Thornapple Township has remained a Seller's Market.
Key Takeaway
Thornapple Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Thornapple Township, MI
How much do homes in Thornapple Township, MI cost?
Median Sold Price
$330,000
$239/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in Thornapple Township has remained the same since last year.
Summary: The median home sold price in Thornapple Township was $330,000 in March 2024, the same as last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215.5K | $295K | +36.9% |
| 3 Bedrooms | $283K | $310K | +9.5% |
| 4 Bedrooms | $340K | $342K | +0.6% |
| 5+ Bedrooms | $610K | $435K | -28.7% |
Summary: Thornapple Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 36.9%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes decreased by 28.7%.
Median Sold Price Compared To Nearby Cities
| Middleville | $325K | $340K | +4.6% |
| Caledonia Township | $390K | $399.5K | +2.5% |
| Yankee Springs Township | $369.5K | $371K | 0.4% |
| Thornapple Township | $330K | $330K | 0.0% |
| Irving Township | $322.4K | $304K | -5.7% |
Housing Supply in Thornapple Township, MI
How many homes are available in Thornapple Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 25 | -3.8% |
Summary: The Thornapple Township real estate market had 25 homes for sale in March 2024, a 3.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 12 | +20.0% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Thornapple Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Thornapple Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Thornapple Township in March 2024, down by 33.3% month-over-month. Of the 8 sold homes, 13% were sold under asking, 50% were sold at asking, and 38% were sold over asking.
Days on Market for Thornapple Township, MI
How long does it take to sell a home in Thornapple Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 12 Days | -70.0% |
Summary: Homes in Thornapple Township had an average of 12 days on market in Mar 2024, down by 70% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Thornapple Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 8 homes were sold in Thornapple Township; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
