Is West, 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, West has remained a Seller's Market.
Key Takeaway
West is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West, MI
How much do homes in West, MI cost?
Median Sold Price
$470,000
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in West was $470,000 in April 2024, up 9.3% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162.5K | $165K | +1.5% |
| 2 Bedrooms | $316.5K | $325K | +2.7% |
| 3 Bedrooms | $435K | $458K | +5.3% |
| 4 Bedrooms | $492.5K | $600K | +21.8% |
| 5+ Bedrooms | $805K | $730K | -9.3% |
Summary: West housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 21.8%, and 5+ bedroom homes decreased by 9.3%.
Median Sold Price Compared To Nearby Neighborhoods
| West | $430K | $470K | +9.3% |
| Dexter-Miller | $420K | $418.5K | -0.4% |
Housing Supply in West, MI
How many homes are available in West, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 60 | +20.0% |
Summary: The West real estate market had 60 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 32 | 38 | +18.8% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The West housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in West in April 2024, up by 22.2% month-over-month. Of the 22 sold homes, 23% were sold under asking, 27% were sold at asking, and 50% were sold over asking.
Days on Market for West, MI
How long does it take to sell a home in West, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 36 Days | +24.8% |
Summary: Homes in West had an average of 36 days on market in Apr 2024, up by 24.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in West has remained consistent over time.
Summary: During April 2024, 22 homes were sold in West; 45% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
