Is Portland, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Portland has remained a Seller's Market.
Housing Prices in Portland, MI
How much do homes in Portland, MI cost?
Median Sold Price
$245,000
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Portland was $245,000 in April 2024, up 11.4% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $88.5K | $155K | +75.1% |
2 Bedrooms | $135.5K | $158K | +16.6% |
3 Bedrooms | $220K | $230K | +4.5% |
4 Bedrooms | $225.2K | $295K | +31.0% |
5+ Bedrooms | $329K | $360K | +9.4% |
Summary: Portland housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 75.1%, 2 bedroom homes increased by 16.6%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 31%, and 5+ bedroom homes increased by 9.4%.
Median Sold Price Compared To Nearby Cities
Portland | $220K | $245K | +11.4% |
Portland Township | $222.7K | $245K | +10.0% |
Danby Township | $245K | $231.5K | -5.5% |
Housing Supply in Portland, MI
How many homes are available in Portland, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 16 | -27.3% |
Summary: The Portland real estate market had 16 homes for sale in April 2024, a 27.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 2 | +100.0% |
3 Bedrooms | 13 | 9 | -30.8% |
4 Bedrooms | 8 | 4 | -50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Portland housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 30.8%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 6 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Portland in April 2024, down by 40.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Portland, MI
How long does it take to sell a home in Portland, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
158 Days | 22 Days | -85.7% |
Summary: Homes in Portland had an average of 22 days on market in Apr 2024, down by 85.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Portland; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.