Is Kentwood, 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, Kentwood has remained a Seller's Market.
Housing Prices in Kentwood, MI
How much do homes in Kentwood, MI cost?
Median Sold Price
$309,666
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Kentwood was $309,666 in May 2024, up 3.4% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $160K | $204.9K | +28.1% |
2 Bedrooms | $181K | $199.9K | +10.4% |
3 Bedrooms | $293K | $305K | +4.1% |
4 Bedrooms | $350K | $358K | +2.3% |
5+ Bedrooms | $402.5K | $476.6K | +18.4% |
Summary: Kentwood housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.1%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 18.4%.
Median Sold Price Compared To Nearby Cities
Wyoming | $235K | $260K | +10.6% |
Grand Rapids | $275.1K | $300K | +9.0% |
Gaines Charter Township | $339.5K | $360K | +6.0% |
Cascade Charter Township | $530K | $550K | +3.8% |
Kentwood | $299.4K | $309.6K | +3.4% |
Housing Supply in Kentwood, MI
How many homes are available in Kentwood, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
126 | 145 | +15.1% |
Summary: The Kentwood real estate market had 145 homes for sale in May 2024, a 15.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 20 | 26 | +30.0% |
3 Bedrooms | 55 | 69 | +25.5% |
4 Bedrooms | 41 | 40 | -2.4% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Kentwood housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 25.5%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
37 | 47 | +27.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 47 homes were sold or pending in Kentwood in May 2024, up by 27.0% month-over-month. Of the 47 sold homes, 26% were sold under asking, 28% were sold at asking, and 47% were sold over asking.
Days on Market for Kentwood, MI
How long does it take to sell a home in Kentwood, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
29 Days | 12 Days | -57.9% |
Summary: Homes in Kentwood had an average of 12 days on market in May 2024, down by 57.9% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 47 homes were sold in Kentwood; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.