Is Benton Harbor, 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, Benton Harbor was a Seller's Market.
Key Takeaway
Benton Harbor 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 Benton Harbor, MI
How much do homes in Benton Harbor, MI cost?
Median Sold Price
$185,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Benton Harbor have sold for 27.7% more than they did a year ago.
Summary: The median home sold price in Benton Harbor was $185,000 in May 2024, up 27.7% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60.5K | $84K | +38.8% |
| 2 Bedrooms | $81K | $127K | +56.8% |
| 3 Bedrooms | $165.1K | $181.5K | +9.9% |
| 4 Bedrooms | $216.5K | $309.9K | +43.1% |
| 5+ Bedrooms | $365K | $306K | -16.2% |
Summary: Benton Harbor housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.8%, 2 bedroom homes increased by 56.8%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 43.1%, and 5+ bedroom homes decreased by 16.2%.
Median Sold Price Compared To Nearby Cities
| Benton Harbor | $144.8K | $185K | +27.7% |
| Benton Charter Township | $138.9K | $167K | +20.2% |
| Saint Joseph | $288K | $290K | +0.7% |
Housing Supply in Benton Harbor, MI
How many homes are available in Benton Harbor, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 81 | 100 | +23.5% |
Summary: The Benton Harbor real estate market had 100 homes for sale in May 2024, a 23.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 28 | +16.7% |
| 3 Bedrooms | 37 | 42 | +13.5% |
| 4 Bedrooms | 15 | 23 | +53.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Benton Harbor 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 increased by 16.7%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 53.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benton Harbor, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Benton Harbor in May 2024, up by 6.7% month-over-month. Of the 16 sold homes, 25% were sold under asking, 31% were sold at asking, and 44% were sold over asking.
Days on Market for Benton Harbor, MI
How long does it take to sell a home in Benton Harbor, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 69 Days | +44.1% |
Summary: Homes in Benton Harbor had an average of 69 days on market in May 2024, up by 44.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Benton Harbor has remained consistent over time.
Summary: During May 2024, 16 homes were sold in Benton Harbor; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% 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.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.