Is Niles, 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, Niles has remained a Seller's Market.
Housing Prices in Niles, MI
How much do homes in Niles, MI cost?
Median Sold Price
$184,666
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Niles was $184,666 in April 2024, up 17.3% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75K | $76.5K | +2.0% |
2 Bedrooms | $125K | $144.5K | +15.6% |
3 Bedrooms | $163K | $177.6K | +9.0% |
4 Bedrooms | $182.5K | $278.5K | +52.6% |
5+ Bedrooms | $285K | $420K | +47.4% |
Summary: Niles housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 52.6%, and 5+ bedroom homes increased by 47.4%.
Median Sold Price Compared To Nearby Cities
Niles | $157.4K | $184.6K | +17.3% |
Niles Township | $165K | $185.1K | +12.2% |
Howard Township | $222K | $194.9K | -12.2% |
Housing Supply in Niles, MI
How many homes are available in Niles, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
127 | 125 | -1.6% |
Summary: The Niles real estate market had 125 homes for sale in April 2024, a 1.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 28 | 26 | -7.1% |
3 Bedrooms | 61 | 55 | -9.8% |
4 Bedrooms | 23 | 29 | +26.1% |
5+ Bedrooms | 15 | 15 | 0.0% |
Summary: The Niles 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 decreased by 7.1%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
38 | 38 | 0.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Niles in April 2024, the same as the previous month. Of the 38 sold homes, 55% were sold under asking, 11% were sold at asking, and 34% were sold over asking.
Days on Market for Niles, MI
How long does it take to sell a home in Niles, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
50 Days | 66 Days | +32.0% |
Summary: Homes in Niles had an average of 66 days on market in Apr 2024, up by 32% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During April 2024, 38 homes were sold in Niles; 39% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.