Is West Olive, 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, West Olive has remained a Seller's Market.
Housing Prices in West Olive, MI
How much do homes in West Olive, MI cost?
Median Sold Price
$456,000
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in West Olive was $456,000 in May 2024, up 7.3% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $320K | $337.5K | +5.5% |
3 Bedrooms | $380K | $420K | +10.5% |
4 Bedrooms | $455K | $542.4K | +19.2% |
5+ Bedrooms | $550K | $681.2K | +23.9% |
Summary: West Olive 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 5.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 23.9%.
Median Sold Price Compared To Nearby Cities
Olive Township | $310K | $410K | +32.3% |
Port Sheldon Township | $437.5K | $495K | +13.1% |
Grand Haven Charter Township | $330.6K | $356.3K | +7.8% |
West Olive | $425K | $456K | +7.3% |
Robinson Township | $343K | $347.4K | +1.3% |
Housing Supply in West Olive, MI
How many homes are available in West Olive, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 35 | +40.0% |
Summary: The West Olive real estate market had 35 homes for sale in May 2024, a 40.0% 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 | 1 | 2 | +100.0% |
3 Bedrooms | 12 | 10 | -16.7% |
4 Bedrooms | 8 | 14 | +75.0% |
5+ Bedrooms | 4 | 9 | +125.0% |
Summary: The West Olive 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 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 75%, and 5+ bedroom homes increased by 125%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 10 | +42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in West Olive in May 2024, up by 42.9% month-over-month. Of the 10 sold homes, 10% were sold under asking, 20% were sold at asking, and 70% were sold over asking.
Days on Market for West Olive, MI
How long does it take to sell a home in West Olive, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
39 Days | 6 Days | -83.4% |
Summary: Homes in West Olive had an average of 6 days on market in May 2024, down by 83.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in West Olive; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.