Is Riverdale, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Riverdale was a Seller's Market.
Key Takeaway
Riverdale 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 Riverdale, MI
How much do homes in Riverdale, MI cost?
Median Sold Price
$152,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Riverdale have sold for 39.2% less than they did a year ago.
Summary: The median home sold price in Riverdale was $152,000 in May 2024, down 39.2% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $135K | N/A |
| 2 Bedrooms | $120K | $45K | -62.5% |
| 3 Bedrooms | $196.7K | $250K | +27.1% |
| 4 Bedrooms | $310K | $229.5K | -26.0% |
| 5+ Bedrooms | $250K | $335K | +34.0% |
Summary: Riverdale housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 62.5%, 3 bedroom homes increased by 27.1%, 4 bedroom homes decreased by 26%, and 5+ bedroom homes increased by 34%.
Median Sold Price Compared To Nearby Cities
| Richland Township | $331.2K | $322.5K | -2.6% |
| Riverdale | $250K | $152K | -39.2% |
Housing Supply in Riverdale, MI
How many homes are available in Riverdale, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 12 | +20.0% |
Summary: The Riverdale real estate market had 12 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 1 | -66.7% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Riverdale housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 66.7%, 3 bedroom homes increased by 80%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverdale, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Riverdale in May 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Riverdale, MI
How long does it take to sell a home in Riverdale, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 16 Days | +65.0% |
Summary: Homes in Riverdale had an average of 16 days on market in May 2024, up by 65% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverdale are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Riverdale; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
