Is Three Rivers, 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, Three Rivers has remained a Seller's Market.
Key Takeaway
Three Rivers is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Three Rivers, MI
How much do homes in Three Rivers, MI cost?
Median Sold Price
$218,500
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Three Rivers have sold for 24.9% more than they did a year ago.
Summary: The median home sold price in Three Rivers was $218,500 in March 2024, up 24.9% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $30K | $183.5K | +511.7% |
| 2 Bedrooms | $136K | $145K | +6.6% |
| 3 Bedrooms | $178.9K | $210K | +17.4% |
| 4 Bedrooms | $192.5K | $263.7K | +37.0% |
| 5+ Bedrooms | $330K | $287K | -13.0% |
Summary: Three Rivers housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 511.7%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 37%, and 5+ bedroom homes decreased by 13%.
Median Sold Price Compared To Nearby Cities
| Three Rivers | $175K | $218.5K | +24.9% |
| Lockport Township | $224.5K | $264.9K | +18.0% |
| Fabius Township | $258.3K | $260K | +0.6% |
Housing Supply in Three Rivers, MI
How many homes are available in Three Rivers, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 63 | +1.6% |
Summary: The Three Rivers real estate market had 63 homes for sale in March 2024, a 1.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Three Rivers housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Three Rivers, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Three Rivers in March 2024, the same as the previous month. Of the 16 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for Three Rivers, MI
How long does it take to sell a home in Three Rivers, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 76 Days | +57.9% |
Summary: Homes in Three Rivers had an average of 76 days on market in Mar 2024, up by 57.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Three Rivers are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in Three Rivers; 50% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.