Is Ada, 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, Ada has remained a Seller's Market.
Key Takeaway
Ada is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ada, MI
How much do homes in Ada, MI cost?
Median Sold Price
$602,583
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ada have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Ada was $602,583 in April 2024, up 5.2% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $379.9K | $397K | +4.5% |
| 3 Bedrooms | $390K | $490K | +25.6% |
| 4 Bedrooms | $565K | $662.5K | +17.3% |
| 5+ Bedrooms | $695K | $767.5K | +10.4% |
Summary: Ada housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes increased by 10.4%.
Median Sold Price Compared To Nearby Cities
| Vergennes Township | $430K | $500K | +16.3% |
| Grand Rapids Charter Township | $279.9K | $300K | +7.2% |
| Ada Township | $562.2K | $600K | +6.7% |
| Ada | $572.8K | $602.5K | +5.2% |
| Cascade Charter Township | $530K | $531.2K | 0.2% |
Housing Supply in Ada, MI
How many homes are available in Ada, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 66 | +26.9% |
Summary: The Ada real estate market had 66 homes for sale in April 2024, a 26.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 21 | 28 | +33.3% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The Ada 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 decreased by 100%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 16 | +33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ada, you could pay more than the asking price. 37.5% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Ada in April 2024, up by 33.3% month-over-month. Of the 16 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for Ada, MI
How long does it take to sell a home in Ada, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 10 Days | 30 Days | +195.2% |
Summary: Homes in Ada had an average of 30 days on market in Apr 2024, up by 195.2% compared to last year.
Breakdown of Home Sale Times
12 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 Ada are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 16 homes were sold in Ada; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% 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.