Is 49503, 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, 49503 has remained a Seller's Market.
Housing Prices in 49503, MI
How much do homes in 49503, MI cost?
Median Sold Price
$273,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 49503 was $273,000 in April 2024, up 13.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $205K | $225K | +9.8% |
2 Bedrooms | $236.5K | $265K | +12.1% |
3 Bedrooms | $235K | $265K | +12.8% |
4 Bedrooms | $278.9K | $323.5K | +16.0% |
5+ Bedrooms | $299.9K | $390K | +30.0% |
Summary: 49503 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 16%, and 5+ bedroom homes increased by 30%.
Housing Supply in 49503, MI
How many homes are available in 49503, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
98 | 104 | +6.1% |
Summary: The 49503 real estate market had 104 homes for sale in April 2024, a 6.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 29 | 32 | +10.3% |
3 Bedrooms | 43 | 42 | -2.3% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 4 | 8 | +100.0% |
Summary: The 49503 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 10.3%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 29 | -9.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 49503 in April 2024, down by 9.4% month-over-month. Of the 29 sold homes, 28% were sold under asking, 21% were sold at asking, and 52% were sold over asking.
Days on Market for 49503, MI
How long does it take to sell a home in 49503, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
45 Days | 12 Days | -73.2% |
Summary: Homes in 49503 had an average of 12 days on market in Apr 2024, down by 73.2% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 29 homes were sold in 49503; 93% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.