Is Ada Township, 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, Ada Township has remained a Seller's Market.
Housing Prices in Ada Township, MI
How much do homes in Ada Township, MI cost?
Median Sold Price
$595,000
$282/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ada Township was $595,000 in May 2024, up 3.5% from last year, and the median price per square foot was $282.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $393.9K | $378.5K | -3.9% |
3 Bedrooms | $430K | $465K | +8.1% |
4 Bedrooms | $572.1K | $602.5K | +5.3% |
5+ Bedrooms | $688K | $773K | +12.4% |
Summary: Ada Township 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 decreased by 3.9%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 12.4%.
Median Sold Price Compared To Nearby Cities
Vergennes Township | $425K | $500K | +17.6% |
Grand Rapids Charter Township | $275.7K | $300K | +8.8% |
Cascade Charter Township | $530K | $550K | +3.8% |
Ada Township | $575K | $595K | +3.5% |
Ada | $580K | $600K | +3.4% |
Housing Supply in Ada Township, MI
How many homes are available in Ada Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
69 | 86 | +24.6% |
Summary: The Ada Township real estate market had 86 homes for sale in May 2024, a 24.6% 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 | 0 | 2 | +100.0% |
3 Bedrooms | 20 | 25 | +25.0% |
4 Bedrooms | 28 | 32 | +14.3% |
5+ Bedrooms | 21 | 27 | +28.6% |
Summary: The Ada Township 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 increased by 25%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 22 | +29.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Ada Township in May 2024, up by 29.4% month-over-month. Of the 22 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Ada Township, MI
How long does it take to sell a home in Ada Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 15 Days | -41.1% |
Summary: Homes in Ada Township had an average of 15 days on market in May 2024, down by 41.1% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Ada Township; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.