Is Ferrysburg, 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, Ferrysburg has remained a Seller's Market.
Key Takeaway
Ferrysburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ferrysburg, MI
How much do homes in Ferrysburg, MI cost?
Median Sold Price
$347,450
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ferrysburg have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Ferrysburg was $347,450 in May 2024, up 8.6% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $261.5K | $237K | -9.4% |
| 3 Bedrooms | $345K | $337.5K | -2.2% |
| 4 Bedrooms | $335K | $378.5K | +13.0% |
| 5+ Bedrooms | $375K | $378.8K | +1.0% |
Summary: Ferrysburg 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 9.4%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 13%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
| Ferrysburg | $319.9K | $347.4K | +8.6% |
| Grand Haven | $330.8K | $353.7K | +6.9% |
| Spring Lake | $375.6K | $388.9K | +3.5% |
| Spring Lake Township | $377.1K | $388.9K | +3.1% |
Housing Supply in Ferrysburg, MI
How many homes are available in Ferrysburg, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Summary: The Ferrysburg real estate market had 13 homes for sale in May 2024, a 8.3% 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Ferrysburg 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 20%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ferrysburg, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Ferrysburg in May 2024, up by 20.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Ferrysburg, MI
How long does it take to sell a home in Ferrysburg, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 11 Days | -12.3% |
Summary: Homes in Ferrysburg had an average of 11 days on market in May 2024, down by 12.3% compared to last year.
Breakdown of Home Sale Times
5 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 Ferrysburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Ferrysburg; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
