Is Kalamazoo Charter 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, Kalamazoo Charter Township has remained a Seller's Market.
Key Takeaway
Kalamazoo Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kalamazoo Charter Township, MI
How much do homes in Kalamazoo Charter Township, MI cost?
Median Sold Price
$224,773
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kalamazoo Charter Township have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Kalamazoo Charter Township was $224,773 in May 2024, up 8.2% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.5K | $124K | +27.2% |
| 2 Bedrooms | $147.2K | $160K | +8.7% |
| 3 Bedrooms | $209.7K | $220K | +4.9% |
| 4 Bedrooms | $269.5K | $299.9K | +11.3% |
| 5+ Bedrooms | $415K | $435K | +4.8% |
Summary: Kalamazoo Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.2%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 4.8%.
Median Sold Price Compared To Nearby Cities
| Parchment | $182.5K | $223K | +22.2% |
| Cooper Charter Township | $229K | $260K | +13.5% |
| Kalamazoo | $207.2K | $224.9K | +8.5% |
| Comstock Charter Township | $244.6K | $265K | +8.3% |
| Kalamazoo Charter Township | $207.7K | $224.7K | +8.2% |
Housing Supply in Kalamazoo Charter Township, MI
How many homes are available in Kalamazoo Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 476 | 492 | +3.4% |
Summary: The Kalamazoo Charter Township real estate market had 492 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 6 | -33.3% |
| 2 Bedrooms | 103 | 94 | -8.7% |
| 3 Bedrooms | 200 | 199 | -0.5% |
| 4 Bedrooms | 120 | 144 | +20.0% |
| 5+ Bedrooms | 44 | 49 | +11.4% |
Summary: The Kalamazoo Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 8.7%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 11.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 135 | 122 | -9.6% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kalamazoo Charter Township, you could pay more than the asking price. 41% of homes here sold above asking price last month.
Summary: A total of 122 homes were sold or pending in Kalamazoo Charter Township in May 2024, down by 9.6% month-over-month. Of the 122 sold homes, 35% were sold under asking, 24% were sold at asking, and 41% were sold over asking.
Days on Market for Kalamazoo Charter Township, MI
How long does it take to sell a home in Kalamazoo Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 40 Days | +31.3% |
Summary: Homes in Kalamazoo Charter Township had an average of 40 days on market in May 2024, up by 31.3% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kalamazoo Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 122 homes were sold in Kalamazoo Charter Township; 68% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.