Is Caledonia, 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, Caledonia has remained a Seller's Market.
Key Takeaway
Caledonia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Caledonia, MI
How much do homes in Caledonia, MI cost?
Median Sold Price
$391,633
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Caledonia have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Caledonia was $391,633 in April 2024, up 8.8% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $225K | N/A |
| 2 Bedrooms | $290K | $302K | +4.1% |
| 3 Bedrooms | $330K | $375K | +13.6% |
| 4 Bedrooms | $445K | $435.5K | -2.1% |
| 5+ Bedrooms | $481K | $528.5K | +9.9% |
Summary: Caledonia 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 4.1%, 3 bedroom homes increased by 13.6%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 9.9%.
Median Sold Price Compared To Nearby Cities
| Caledonia | $359.9K | $391.6K | +8.8% |
| Caledonia Township | $391K | $399.7K | +2.2% |
Housing Supply in Caledonia, MI
How many homes are available in Caledonia, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 71 | 63 | -11.3% |
Summary: The Caledonia real estate market had 63 homes for sale in April 2024, a 11.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 15 | 11 | -26.7% |
| 3 Bedrooms | 26 | 23 | -11.5% |
| 4 Bedrooms | 22 | 18 | -18.2% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Caledonia housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 11.5%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 23 | -8.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Caledonia, you could pay more than the asking price. 47.8% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Caledonia in April 2024, down by 8.0% month-over-month. Of the 23 sold homes, 30% were sold under asking, 22% were sold at asking, and 48% were sold over asking.
Days on Market for Caledonia, MI
How long does it take to sell a home in Caledonia, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 26 Days | -29.5% |
Summary: Homes in Caledonia had an average of 26 days on market in Apr 2024, down by 29.5% compared to last year.
Breakdown of Home Sale Times
19 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 Caledonia are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 23 homes were sold in Caledonia; 83% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% 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.