Is Benton Harbor, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Benton Harbor was a Seller's Market.
Key Takeaway
Benton Harbor is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Benton Harbor, MI
How much do homes in Benton Harbor, MI cost?
Median Sold Price
$180,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Benton Harbor have sold for 39% more than they did a year ago.
Summary: The median home sold price in Benton Harbor was $180,000 in April 2024, up 39% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57K | $84K | +47.4% |
| 2 Bedrooms | $76.5K | $128.5K | +68.0% |
| 3 Bedrooms | $163.4K | $170K | +4.0% |
| 4 Bedrooms | $216.5K | $309.9K | +43.1% |
| 5+ Bedrooms | $224.9K | $306K | +36.1% |
Summary: Benton Harbor housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.4%, 2 bedroom homes increased by 68%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 43.1%, and 5+ bedroom homes increased by 36.1%.
Median Sold Price Compared To Nearby Cities
| Benton Harbor | $129.5K | $180K | +39.0% |
| Benton Charter Township | $139K | $165K | +18.7% |
| Saint Joseph | $288K | $287K | -0.3% |
Housing Supply in Benton Harbor, MI
How many homes are available in Benton Harbor, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 77 | 80 | +3.9% |
Summary: The Benton Harbor real estate market had 80 homes for sale in April 2024, a 3.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 21 | 27 | +28.6% |
| 3 Bedrooms | 39 | 34 | -12.8% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Benton Harbor housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 28.6%, 3 bedroom homes decreased by 12.8%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benton Harbor, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Benton Harbor in April 2024, down by 27.8% month-over-month. Of the 13 sold homes, 46% were sold under asking, 38% were sold at asking, and 15% were sold over asking.
Days on Market for Benton Harbor, MI
How long does it take to sell a home in Benton Harbor, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 69 Days | 81 Days | +17.6% |
Summary: Homes in Benton Harbor had an average of 81 days on market in Apr 2024, up by 17.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Benton Harbor are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 13 homes were sold in Benton Harbor; 38% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 46% of homes were sold over 90 days.
