Is 49504, 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, 49504 has remained a Seller's Market.
Key Takeaway
49504 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49504, MI
How much do homes in 49504, MI cost?
Median Sold Price
$275,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49504 have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in 49504 was $275,000 in April 2024, up 7.9% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $219.9K | $254.9K | +15.9% |
| 2 Bedrooms | $225K | $245.1K | +8.9% |
| 3 Bedrooms | $255.2K | $279.9K | +9.7% |
| 4 Bedrooms | $260K | $282.5K | +8.7% |
| 5+ Bedrooms | $280K | $335K | +19.6% |
Summary: 49504 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.9%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 19.6%.
Housing Supply in 49504, MI
How many homes are available in 49504, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 96 | +20.0% |
Summary: The 49504 real estate market had 96 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 | 1 | 7 | +600.0% |
| 2 Bedrooms | 19 | 27 | +42.1% |
| 3 Bedrooms | 42 | 43 | +2.4% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The 49504 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 600%, 2 bedroom homes increased by 42.1%, 3 bedroom homes increased by 2.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49504, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in 49504 in April 2024, up by 14.3% month-over-month. Of the 32 sold homes, 22% were sold under asking, 9% were sold at asking, and 69% were sold over asking.
Days on Market for 49504, MI
How long does it take to sell a home in 49504, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 16 Days | 27 Days | +63.3% |
Summary: Homes in 49504 had an average of 27 days on market in Apr 2024, up by 63.3% compared to last year.
Breakdown of Home Sale Times
26 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 49504 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 32 homes were sold in 49504; 81% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
