Is 49431, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 49431 has remained a Seller's Market.
Housing Prices in 49431, MI
How much do homes in 49431, MI cost?
Median Sold Price
$295,550
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 49431 was $295,550 in May 2024, up 16.7% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $180K | $209K | +16.1% |
2 Bedrooms | $210K | $268K | +27.6% |
3 Bedrooms | $251.5K | $279.5K | +11.1% |
4 Bedrooms | $290K | $345K | +19.0% |
5+ Bedrooms | $465K | $502K | +8.0% |
Summary: 49431 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.1%, 2 bedroom homes increased by 27.6%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 8%.
Housing Supply in 49431, MI
How many homes are available in 49431, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
73 | 93 | +27.4% |
Summary: The 49431 real estate market had 93 homes for sale in May 2024, a 27.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 12 | 14 | +16.7% |
3 Bedrooms | 35 | 47 | +34.3% |
4 Bedrooms | 17 | 22 | +29.4% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The 49431 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 34.3%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 22 | +46.7% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in 49431 in May 2024, up by 46.7% month-over-month. Of the 22 sold homes, 64% were sold under asking, 14% were sold at asking, and 23% were sold over asking.
Days on Market for 49431, MI
How long does it take to sell a home in 49431, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
63 Days | 82 Days | +29.6% |
Summary: Homes in 49431 had an average of 82 days on market in May 2024, up by 29.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in 49431; 36% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 32% of homes were sold over 90 days.