Is Kalamazoo, 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, Kalamazoo has remained a Seller's Market.
Housing Prices in Kalamazoo, MI
How much do homes in Kalamazoo, MI cost?
Median Sold Price
$222,093
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Kalamazoo was $222,093 in April 2024, up 19.8% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $103K | $119.5K | +16.0% |
2 Bedrooms | $140K | $159.9K | +14.2% |
3 Bedrooms | $195K | $219.9K | +12.8% |
4 Bedrooms | $239.9K | $299.8K | +25.0% |
5+ Bedrooms | $309K | $430K | +39.2% |
Summary: Kalamazoo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 12.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 39.2%.
Median Sold Price Compared To Nearby Cities
Kalamazoo | $185.3K | $222K | +19.8% |
Kalamazoo Charter Township | $190.8K | $221.9K | +16.3% |
Portage | $264.9K | $268.1K | +1.2% |
Housing Supply in Kalamazoo, MI
How many homes are available in Kalamazoo, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
469 | 449 | -4.3% |
Summary: The Kalamazoo real estate market had 449 homes for sale in April 2024, a 4.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 10 | -9.1% |
2 Bedrooms | 97 | 96 | -1.0% |
3 Bedrooms | 188 | 184 | -2.1% |
4 Bedrooms | 124 | 116 | -6.5% |
5+ Bedrooms | 49 | 43 | -12.2% |
Summary: The Kalamazoo housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes decreased by 12.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
133 | 121 | -9.0% |
Asking Price vs. Sold Price
44 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
51 Homes Were Sold
Over Asking
Summary: A total of 121 homes were sold or pending in Kalamazoo in April 2024, down by 9.0% month-over-month. Of the 121 sold homes, 36% were sold under asking, 21% were sold at asking, and 42% were sold over asking.
Days on Market for Kalamazoo, MI
How long does it take to sell a home in Kalamazoo, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 28 Days | +46.9% |
Summary: Homes in Kalamazoo had an average of 28 days on market in Apr 2024, up by 46.9% compared to last year.
Breakdown of Home Sale Times
92 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During April 2024, 121 homes were sold in Kalamazoo; 76% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.