Is Kent County, 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, Kent County has remained a Seller's Market.
Housing Prices in Kent County, MI
How much do homes in Kent County, MI cost?
Median Sold Price
$321,669
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Kent County was $321,669 in May 2024, up 7.3% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $202K | $220K | +8.9% |
2 Bedrooms | $220K | $238.8K | +8.6% |
3 Bedrooms | $277.3K | $302.3K | +9.0% |
4 Bedrooms | $365.4K | $389.6K | +6.6% |
5+ Bedrooms | $516.2K | $551.5K | +6.8% |
Summary: Kent County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 6.8%.
Median Sold Price Compared To Nearby Counties
Ionia County | $197.9K | $220K | +11.1% |
Newaygo County | $204.6K | $224.6K | +9.8% |
Kent County | $299.8K | $321.6K | +7.3% |
Montcalm County | $215.4K | $224.8K | +4.4% |
Housing Supply in Kent County, MI
How many homes are available in Kent County, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,671 | 1,918 | +14.8% |
Summary: The Kent County real estate market had 1,918 homes for sale in May 2024, a 14.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 30 | 32 | +6.7% |
2 Bedrooms | 273 | 305 | +11.7% |
3 Bedrooms | 733 | 826 | +12.7% |
4 Bedrooms | 456 | 531 | +16.4% |
5+ Bedrooms | 179 | 224 | +25.1% |
Summary: The Kent County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 12.7%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes increased by 25.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
538 | 628 | +16.7% |
Asking Price vs. Sold Price
168 Homes Were Sold
Under Asking
112 Homes Were Sold
At Asking
348 Homes Were Sold
Over Asking
Summary: A total of 628 homes were sold or pending in Kent County in May 2024, up by 16.7% month-over-month. Of the 628 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for Kent County, MI
How long does it take to sell a home in Kent County, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 16 Days | -23.5% |
Summary: Homes in Kent County had an average of 16 days on market in May 2024, down by 23.5% compared to last year.
Breakdown of Home Sale Times
538 Homes Were Sold
Under 30 Days
70 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Summary: During May 2024, 628 homes were sold in Kent County; 86% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.