Is Portage, 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, Portage has remained a Seller's Market.
Housing Prices in Portage, MI
How much do homes in Portage, MI cost?
Median Sold Price
$268,187
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Portage was $268,187 in April 2024, up 1.2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75.7K | $95K | +25.4% |
2 Bedrooms | $174.9K | $194K | +10.9% |
3 Bedrooms | $240K | $245K | +2.1% |
4 Bedrooms | $325K | $326K | 0.3% |
5+ Bedrooms | $430K | $398.5K | -7.3% |
Summary: Portage housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.4%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 7.3%.
Median Sold Price Compared To Nearby Cities
Kalamazoo | $185.3K | $222K | +19.8% |
Pavilion Township | $272.5K | $309.2K | +13.5% |
Comstock Charter Township | $240K | $263K | +9.6% |
Scotts | $299.5K | $311K | +3.8% |
Portage | $264.9K | $268.1K | +1.2% |
Housing Supply in Portage, MI
How many homes are available in Portage, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
132 | 156 | +18.2% |
Summary: The Portage real estate market had 156 homes for sale in April 2024, a 18.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 15 | 19 | +26.7% |
3 Bedrooms | 60 | 69 | +15.0% |
4 Bedrooms | 39 | 57 | +46.2% |
5+ Bedrooms | 17 | 11 | -35.3% |
Summary: The Portage housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 26.7%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes decreased by 35.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
36 | 43 | +19.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 43 homes were sold or pending in Portage in April 2024, up by 19.4% month-over-month. Of the 43 sold homes, 40% were sold under asking, 21% were sold at asking, and 40% were sold over asking.
Days on Market for Portage, MI
How long does it take to sell a home in Portage, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
38 Days | 29 Days | -22.7% |
Summary: Homes in Portage had an average of 29 days on market in Apr 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 43 homes were sold in Portage; 70% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.