Is Armada, 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, Armada has remained a Seller's Market.
Key Takeaway
Armada is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Armada, MI
How much do homes in Armada, MI cost?
Median Sold Price
$360,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Armada have sold for 10.8% more than they did a year ago.
Summary: The median home sold price in Armada was $360,000 in May 2024, up 10.8% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $275K | $220K | -20.0% |
| 3 Bedrooms | $325K | $348.5K | +7.2% |
| 4 Bedrooms | $420K | $409.9K | -2.4% |
| 5+ Bedrooms | - | $464.5K | N/A |
Summary: Armada 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 20%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Armada | $325K | $360K | +10.8% |
| Armada Township | $325K | $360K | +10.8% |
Housing Supply in Armada, MI
How many homes are available in Armada, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 21 | +50.0% |
Summary: The Armada real estate market had 21 homes for sale in May 2024, a 50.0% 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 | 4 | 9 | +125.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Armada 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 125%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Armada, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Armada in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 0% were sold under asking, 20% were sold at asking, and 80% were sold over asking.
Days on Market for Armada, MI
How long does it take to sell a home in Armada, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 8 Days | 14 Days | +80.0% |
Summary: Homes in Armada had an average of 14 days on market in May 2024, up by 80% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Armada are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Armada; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.