Is Weatherby / Franklin Park, 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, Weatherby / Franklin Park has remained a Seller's Market.
Key Takeaway
Weatherby / Franklin Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Weatherby / Franklin Park, MI
How much do homes in Weatherby / Franklin Park, MI cost?
Median Sold Price
$55,000
$56/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Weatherby / Franklin Park have sold for 10% more than they did a year ago.
Summary: The median home sold price in Weatherby / Franklin Park was $55,000 in April 2024, up 10% from last year, and the median price per square foot was $56.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $40K | $50K | +25.0% |
| 3 Bedrooms | $50K | $59K | +18.0% |
| 4 Bedrooms | $55K | $48.2K | -12.3% |
| 5+ Bedrooms | - | $500K | N/A |
Summary: Weatherby / Franklin Park 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 25%, 3 bedroom homes increased by 18%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Grandale | $44K | $57.2K | +30.1% |
| Weatherby / Franklin Park | $50K | $55K | +10.0% |
| Brightmoor | $57K | $60K | +5.3% |
| Franklin Park | $53K | $55K | +3.8% |
Housing Supply in Weatherby / Franklin Park, MI
How many homes are available in Weatherby / Franklin Park, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 49 | 56 | +14.3% |
Summary: The Weatherby / Franklin Park real estate market had 56 homes for sale in April 2024, a 14.3% increase 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 37 | 47 | +27.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Weatherby / Franklin Park 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 decreased by 33.3%, 3 bedroom homes increased by 27%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Weatherby / Franklin Park, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Weatherby / Franklin Park in April 2024, down by 9.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Weatherby / Franklin Park, MI
How long does it take to sell a home in Weatherby / Franklin Park, MI?
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Weatherby / Franklin Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Weatherby / Franklin Park; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% 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.