Is Kewadin, 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, Kewadin has remained a Seller's Market.
Key Takeaway
Kewadin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kewadin, MI
How much do homes in Kewadin, MI cost?
Median Sold Price
$422,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kewadin have sold for 15.6% less than they did a year ago.
Summary: The median home sold price in Kewadin was $422,000 in May 2024, down 15.6% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $260K | $280K | +7.7% |
| 3 Bedrooms | $410K | $352.4K | -14.0% |
| 4 Bedrooms | $745K | $882.5K | +18.5% |
| 5+ Bedrooms | $4.6M | $707.5K | -84.6% |
Summary: Kewadin 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 increased by 7.7%, 3 bedroom homes decreased by 14%, 4 bedroom homes increased by 18.5%, and 5+ bedroom homes decreased by 84.6%.
Median Sold Price Compared To Nearby Cities
| Elk Rapids Township | $397K | $459K | +15.6% |
| Kewadin | $500K | $422K | -15.6% |
| Forest Home Township | $407.5K | $337.5K | -17.2% |
| Milton Township | $699K | $457.4K | -34.6% |
Housing Supply in Kewadin, MI
How many homes are available in Kewadin, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Summary: The Kewadin real estate market had 21 homes for sale in May 2024, a 31.3% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Kewadin 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kewadin, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Kewadin in May 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Kewadin, MI
How long does it take to sell a home in Kewadin, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 36 Days | +5.1% |
Summary: Homes in Kewadin had an average of 36 days on market in May 2024, up by 5.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kewadin are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Kewadin; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
