Is Newaygo 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, Newaygo County has remained a Seller's Market.
Key Takeaway
Newaygo County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newaygo County, MI
How much do homes in Newaygo County, MI cost?
Median Sold Price
$224,680
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newaygo County have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Newaygo County was $224,680 in May 2024, up 9.8% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $114K | -0.9% |
| 2 Bedrooms | $160K | $180K | +12.5% |
| 3 Bedrooms | $199.5K | $226.8K | +13.7% |
| 4 Bedrooms | $265K | $285K | +7.5% |
| 5+ Bedrooms | $347.5K | $346K | -0.4% |
Summary: Newaygo County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes decreased by 0.4%.
Median Sold Price Compared To Nearby Counties
| Lake County | $135.8K | $152K | +11.9% |
| Newaygo County | $204.6K | $224.6K | +9.8% |
| Muskegon County | $198.7K | $217.9K | +9.7% |
| Montcalm County | $215.4K | $224.8K | +4.4% |
| Mecosta County | $199.6K | $205.3K | +2.8% |
Housing Supply in Newaygo County, MI
How many homes are available in Newaygo County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 168 | 173 | +3.0% |
Summary: The Newaygo County real estate market had 173 homes for sale in May 2024, a 3.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 6 | +100.0% |
| 2 Bedrooms | 49 | 49 | 0.0% |
| 3 Bedrooms | 68 | 68 | 0.0% |
| 4 Bedrooms | 35 | 32 | -8.6% |
| 5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Newaygo County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8.6%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 51 | +27.5% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newaygo County, you may be able to get a good deal. 43.1% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Newaygo County in May 2024, up by 27.5% month-over-month. Of the 51 sold homes, 43% were sold under asking, 25% were sold at asking, and 31% were sold over asking.
Days on Market for Newaygo County, MI
How long does it take to sell a home in Newaygo County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 34 Days | +3.4% |
Summary: Homes in Newaygo County had an average of 34 days on market in May 2024, up by 3.4% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newaygo County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 51 homes were sold in Newaygo County; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 12% 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.