Is Riverview, 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, Riverview has remained a Seller's Market.
Key Takeaway
Riverview is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverview, MI
How much do homes in Riverview, MI cost?
Median Sold Price
$190,000
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Riverview have sold for 7.3% less than they did a year ago.
Summary: The median home sold price in Riverview was $190,000 in April 2024, down 7.3% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $165K | -5.7% |
| 3 Bedrooms | $192.4K | $177K | -8.0% |
| 4 Bedrooms | $280K | $291K | +3.9% |
| 5+ Bedrooms | $264.9K | $399K | +50.6% |
Summary: Riverview housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.7%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 50.6%.
Median Sold Price Compared To Nearby Cities
| Wyandotte | $170.3K | $182.7K | +7.3% |
| Trenton | $215.7K | $225K | +4.3% |
| Southgate | $175K | $182K | +4.0% |
| Grosse Ile Township | $365K | $350K | -4.1% |
| Riverview | $205K | $190K | -7.3% |
Housing Supply in Riverview, MI
How many homes are available in Riverview, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Summary: The Riverview real estate market had 22 homes for sale in April 2024, a 12.0% 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 11 | 8 | -27.3% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Riverview 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 remained the same, 3 bedroom homes decreased by 27.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverview, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Riverview in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Riverview, MI
How long does it take to sell a home in Riverview, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 17 Days | -62.2% |
Summary: Homes in Riverview had an average of 17 days on market in Apr 2024, down by 62.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverview are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Riverview; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
