Is 49507, 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, 49507 has remained a Seller's Market.
Housing Prices in 49507, MI
How much do homes in 49507, MI cost?
Median Sold Price
$232,250
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 49507 was $232,250 in April 2024, up 14.8% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $125K | $142.5K | +14.0% |
2 Bedrooms | $181.5K | $208K | +14.6% |
3 Bedrooms | $209.9K | $245K | +16.7% |
4 Bedrooms | $197K | $232K | +17.8% |
5+ Bedrooms | $210K | $251K | +19.5% |
Summary: 49507 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 19.5%.
Housing Supply in 49507, MI
How many homes are available in 49507, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 84 | +29.2% |
Summary: The 49507 real estate market had 84 homes for sale in April 2024, a 29.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 41 | 57 | +39.0% |
4 Bedrooms | 14 | 14 | 0.0% |
5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The 49507 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 39%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 33 | +22.2% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Summary: A total of 33 homes were sold or pending in 49507 in April 2024, up by 22.2% 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 49507, MI
How long does it take to sell a home in 49507, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
16 Days | 17 Days | +5.5% |
Summary: Homes in 49507 had an average of 17 days on market in Apr 2024, up by 5.5% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 33 homes were sold in 49507; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.