Is Muskegon Heights, 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, Muskegon Heights has remained a Seller's Market.
Key Takeaway
Muskegon Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Muskegon Heights, MI
How much do homes in Muskegon Heights, MI cost?
Median Sold Price
$81,200
$82/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Muskegon Heights have sold for 35.6% more than they did a year ago.
Summary: The median home sold price in Muskegon Heights was $81,200 in May 2024, up 35.6% from last year, and the median price per square foot was $82.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $26K | $87.9K | +238.1% |
| 2 Bedrooms | $52K | $70K | +34.6% |
| 3 Bedrooms | $62K | $92.7K | +49.5% |
| 4 Bedrooms | $110K | $109.2K | -0.7% |
| 5+ Bedrooms | $145K | $138K | -4.8% |
Summary: Muskegon Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 238.1%, 2 bedroom homes increased by 34.6%, 3 bedroom homes increased by 49.5%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Muskegon Heights | $59.9K | $81.2K | +35.6% |
| Norton Shores | $234.9K | $260K | +10.7% |
| Muskegon Charter Township | $169.9K | $184.9K | +8.8% |
| Muskegon | $169.3K | $183.6K | +8.4% |
Housing Supply in Muskegon Heights, MI
How many homes are available in Muskegon Heights, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 50 | +6.4% |
Summary: The Muskegon Heights real estate market had 50 homes for sale in May 2024, a 6.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 18 | 22 | +22.2% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Muskegon Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 13 | +62.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Muskegon Heights, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Muskegon Heights in May 2024, up by 62.5% month-over-month. Of the 13 sold homes, 46% were sold under asking, 46% were sold at asking, and 8% were sold over asking.
Days on Market for Muskegon Heights, MI
How long does it take to sell a home in Muskegon Heights, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 21 Days | -36.2% |
Summary: Homes in Muskegon Heights had an average of 21 days on market in May 2024, down by 36.2% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Muskegon Heights are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Muskegon Heights; 77% of homes were sold within 30 days, 15% 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.