Is Upper West, 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, Upper West was a Seller's Market.
Key Takeaway
Upper West 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 Upper West, MI
How much do homes in Upper West, MI cost?
Median Sold Price
$85,000
$77/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Upper West has remained the same since last year.
Summary: The median home sold price in Upper West was $85,000 in May 2024, the same as last year, and the median price per square foot was $77.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $37K | $63.7K | +72.3% |
| 2 Bedrooms | $53K | $50K | -5.7% |
| 3 Bedrooms | $89K | $90K | +1.0% |
| 4 Bedrooms | $132.5K | $135K | +1.9% |
| 5+ Bedrooms | $175K | $155K | -11.4% |
Summary: Upper West housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 72.3%, 2 bedroom homes decreased by 5.7%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 11.4%.
Median Sold Price Compared To Nearby Neighborhoods
| East Riverdale | $57K | $99K | +73.7% |
| Minock Park | $89K | $97K | +9.0% |
| North Rosedale Park | $187.5K | $194.2K | +3.6% |
| Rosedale | $167.5K | $172.5K | +3.0% |
| Upper West | $84.9K | $85K | 0.0% |
Housing Supply in Upper West, MI
How many homes are available in Upper West, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 602 | 655 | +8.8% |
Summary: The Upper West real estate market had 655 homes for sale in May 2024, a 8.8% 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 | 86 | 103 | +19.8% |
| 3 Bedrooms | 438 | 474 | +8.2% |
| 4 Bedrooms | 59 | 60 | +1.7% |
| 5+ Bedrooms | 16 | 14 | -12.5% |
Summary: The Upper West 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 19.8%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 126 | 100 | -20.6% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper West, you may be able to get a good deal. 52% of homes here sold below asking price last month.
Summary: A total of 100 homes were sold or pending in Upper West in May 2024, down by 20.6% month-over-month. Of the 100 sold homes, 52% were sold under asking, 19% were sold at asking, and 29% were sold over asking.
Days on Market for Upper West, MI
How long does it take to sell a home in Upper West, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 54 Days | +21.3% |
Summary: Homes in Upper West had an average of 54 days on market in May 2024, up by 21.3% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
20 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper West are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 100 homes were sold in Upper West; 55% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.