Is 49316, 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, 49316 has remained a Seller's Market.
Key Takeaway
49316 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49316, MI
How much do homes in 49316, MI cost?
Median Sold Price
$391,225
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49316 have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in 49316 was $391,225 in April 2024, up 7.7% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345K | $225K | -34.8% |
| 2 Bedrooms | $272.4K | $302K | +10.8% |
| 3 Bedrooms | $335K | $375K | +11.9% |
| 4 Bedrooms | $435K | $438.6K | +0.8% |
| 5+ Bedrooms | $539.9K | $528.5K | -2.1% |
Summary: 49316 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.8%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes decreased by 2.1%.
Housing Supply in 49316, MI
How many homes are available in 49316, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 63 | -11.3% |
Summary: The 49316 real estate market had 63 homes for sale in April 2024, a 11.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 15 | 11 | -26.7% |
| 3 Bedrooms | 26 | 22 | -15.4% |
| 4 Bedrooms | 22 | 18 | -18.2% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The 49316 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 23 | -8.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49316, you could pay more than the asking price. 47.8% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in 49316 in April 2024, down by 8.0% month-over-month. Of the 23 sold homes, 30% were sold under asking, 22% were sold at asking, and 48% were sold over asking.
Days on Market for 49316, MI
How long does it take to sell a home in 49316, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 26 Days | -29.5% |
Summary: Homes in 49316 had an average of 26 days on market in Apr 2024, down by 29.5% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49316 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in 49316; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
