Is 49503, 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, 49503 has remained a Seller's Market.
Housing Prices in 49503, MI
How much do homes in 49503, MI cost?
Median Sold Price
$275,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in 49503 was $275,000 in May 2024, up 14.5% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $205K | $230K | +12.2% |
2 Bedrooms | $238K | $260K | +9.2% |
3 Bedrooms | $235K | $271K | +15.3% |
4 Bedrooms | $275K | $319.5K | +16.2% |
5+ Bedrooms | $305K | $410K | +34.4% |
Summary: 49503 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes increased by 34.4%.
Housing Supply in 49503, MI
How many homes are available in 49503, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
112 | 108 | -3.6% |
Summary: The 49503 real estate market had 108 homes for sale in May 2024, a 3.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 7 | -12.5% |
2 Bedrooms | 33 | 28 | -15.2% |
3 Bedrooms | 44 | 46 | +4.5% |
4 Bedrooms | 19 | 20 | +5.3% |
5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The 49503 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 15.2%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 42 | +16.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in 49503 in May 2024, up by 16.7% month-over-month. Of the 42 sold homes, 31% were sold under asking, 17% were sold at asking, and 52% were sold over asking.
Days on Market for 49503, MI
How long does it take to sell a home in 49503, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 16 Days | -61.1% |
Summary: Homes in 49503 had an average of 16 days on market in May 2024, down by 61.1% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 42 homes were sold in 49503; 83% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.