Is West Central, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, West Central was a Seller's Market.
Key Takeaway
West Central is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in West Central, MI
How much do homes in West Central, MI cost?
Median Sold Price
$64,000
$61/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Central have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in West Central was $64,000 in April 2024, up 16.4% from last year, and the median price per square foot was $61.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $9.5K | $36K | +280.0% |
| 2 Bedrooms | $40K | $47K | +17.5% |
| 3 Bedrooms | $58K | $67K | +15.5% |
| 4 Bedrooms | $62K | $85.5K | +37.9% |
| 5+ Bedrooms | $112K | $91.2K | -18.6% |
Summary: West Central housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 280%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 37.9%, and 5+ bedroom homes decreased by 18.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Oakman Grove | $167.5K | $230K | +37.3% |
| Grandale | $44K | $57.2K | +30.1% |
| West Central | $55K | $64K | +16.4% |
| Grandale / Brooks | $52K | $60K | +15.4% |
| Fiskorn | $50K | $52K | +4.0% |
Housing Supply in West Central, MI
How many homes are available in West Central, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 352 | 391 | +11.1% |
Summary: The West Central real estate market had 391 homes for sale in April 2024, a 11.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 70 | 72 | +2.9% |
| 3 Bedrooms | 236 | 275 | +16.5% |
| 4 Bedrooms | 39 | 38 | -2.6% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The West Central housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 16.5%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 75 | 63 | -16.0% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Central, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 63 homes were sold or pending in West Central in April 2024, down by 16.0% month-over-month. Of the 63 sold homes, 57% were sold under asking, 16% were sold at asking, and 27% were sold over asking.
Days on Market for West Central, MI
How long does it take to sell a home in West Central, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 67 Days | 36 Days | -45.5% |
Summary: Homes in West Central had an average of 36 days on market in Apr 2024, down by 45.5% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Central are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 63 homes were sold in West Central; 52% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.