Is 49505, 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, 49505 has remained a Seller's Market.
Key Takeaway
49505 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49505, MI
How much do homes in 49505, MI cost?
Median Sold Price
$284,250
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 49505 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 49505 was $284,250 in April 2024, up 9.3% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $228K | +34.1% |
| 2 Bedrooms | $222K | $250K | +12.6% |
| 3 Bedrooms | $262.2K | $285.6K | +8.9% |
| 4 Bedrooms | $260K | $322.5K | +24.0% |
| 5+ Bedrooms | $380.3K | $320K | -15.9% |
Summary: 49505 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.1%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 24%, and 5+ bedroom homes decreased by 15.9%.
Housing Supply in 49505, MI
How many homes are available in 49505, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 70 | 87 | +24.3% |
Summary: The 49505 real estate market had 87 homes for sale in April 2024, a 24.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 20 | +81.8% |
| 3 Bedrooms | 39 | 48 | +23.1% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 49505 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 increased by 81.8%, 3 bedroom homes increased by 23.1%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 33 | +43.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49505, you could pay more than the asking price. 75.8% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in 49505 in April 2024, up by 43.5% month-over-month. Of the 33 sold homes, 18% were sold under asking, 6% were sold at asking, and 76% were sold over asking.
Days on Market for 49505, MI
How long does it take to sell a home in 49505, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 17 Days | -39.8% |
Summary: Homes in 49505 had an average of 17 days on market in Apr 2024, down by 39.8% compared to last year.
Breakdown of Home Sale Times
27 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 49505 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 33 homes were sold in 49505; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% 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.