Is Central, 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, Central has remained a Seller's Market.
Housing Prices in Central, MI
How much do homes in Central, MI cost?
Median Sold Price
$600,000
$448/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Summary: The median home sold price in Central was $600,000 in April 2024, the same as last year, and the median price per square foot was $448.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $397.4K | $312.5K | -21.4% |
2 Bedrooms | $555K | $570.5K | +2.8% |
3 Bedrooms | $620K | $655K | +5.6% |
4 Bedrooms | $913K | $780K | -14.6% |
5+ Bedrooms | $1.0M | $1.2M | +16.5% |
Summary: Central housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.4%, 2 bedroom homes increased by 2.8%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 14.6%, and 5+ bedroom homes increased by 16.5%.
Median Sold Price Compared To Nearby Neighborhoods
Bach | $535K | $600K | +12.1% |
Central | $600K | $600K | 0.0% |
Downtown | $560K | $535K | -4.5% |
Housing Supply in Central, MI
How many homes are available in Central, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
48 | 57 | +18.8% |
Summary: The Central real estate market had 57 homes for sale in April 2024, a 18.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 11 | 0.0% |
2 Bedrooms | 11 | 15 | +36.4% |
3 Bedrooms | 15 | 15 | 0.0% |
4 Bedrooms | 6 | 10 | +66.7% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Central 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 36.4%, 3 bedroom homes remained the same, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
12 | 19 | +58.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Central in April 2024, up by 58.3% month-over-month. Of the 19 sold homes, 47% were sold under asking, 5% were sold at asking, and 47% were sold over asking.
Days on Market for Central, MI
How long does it take to sell a home in Central, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
37 Days | 47 Days | +28.9% |
Summary: Homes in Central had an average of 47 days on market in Apr 2024, up by 28.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in Central; 47% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.