Is 49017, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49017 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 49017 has remained a Seller's Market.

Key Takeaway

49017 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49017, MI

How much do homes in 49017, MI cost?

Median Sold Price

$175,000

$133/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$5,000(+2.9%)

Key Takeaway

Homes in 49017 have sold for 2.9% more than they did a year ago.

Summary: The median home sold price in 49017 was $175,000 in October 2024, up 2.9% from last year, and the median price per square foot was $133.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $86.5K$86K
-0.7%
2 $135K$145K
+7.4%
3 $150K$173.5K
+15.7%
4 $214K$215K
0.5%
5+ $275K$210.9K
-23.3%

Summary: 49017 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 15.7%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes decreased by 23.3%.

Median Sold Price Compared To Nearby Zip Codes

49014
+11.7%
49037
+8.9%
49021
+4.6%
49017
+2.9%
49050
-7.9%

Housing Supply in 49017, MI

How many homes are available in 49017, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8377-7.2%

Summary: The 49017 real estate market had 77 homes for sale in October 2024, a 7.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1211
-8.3%
3 4646
0.0%
4 2116
-23.8%
5+ 44
0.0%

Summary: The 49017 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 23.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2113-38.1%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49017, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in 49017 in October 2024, down by 38.1% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% were sold over asking.

Days on Market for 49017, MI

How long does it take to sell a home in 49017, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days16 Days-20.8%

Summary: Homes in 49017 had an average of 16 days on market in Oct 2024, down by 20.8% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49017 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in 49017; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in 49017, MI

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