Is Indian Village, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Indian Village has remained a Buyer's Market.
Key Takeaway
Indian Village is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Indian Village, MI
How much do homes in Indian Village, MI cost?
Median Sold Price
$169,900
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Indian Village have sold for 27.7% less than they did a year ago.
Summary: The median home sold price in Indian Village was $169,900 in May 2024, down 27.7% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $59K | $59K | 0.0% |
| 2 Bedrooms | $210K | $130K | -38.1% |
| 3 Bedrooms | $287.5K | $349.5K | +21.6% |
| 4 Bedrooms | $333.5K | $555K | +66.4% |
| 5+ Bedrooms | $557.5K | $600K | +7.6% |
Summary: Indian Village housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.1%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 66.4%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Neighborhoods
| West Village | $377.2K | $396K | +5.0% |
| Indian Village | $235K | $169.9K | -27.7% |
| Butzel | $179.2K | $115K | -35.8% |
| Gold Coast | $146.5K | $87K | -40.6% |
Housing Supply in Indian Village, MI
How many homes are available in Indian Village, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 33 | +10.0% |
Summary: The Indian Village real estate market had 33 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Indian Village housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Indian Village, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Indian Village in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Indian Village, MI
How long does it take to sell a home in Indian Village, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 115 Days | 87 Days | -23.9% |
Summary: Homes in Indian Village had an average of 87 days on market in May 2024, down by 23.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Indian Village are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Indian Village; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
