Is 49022, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49022 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 49022 has remained a Seller's Market.

Key Takeaway

49022 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49022, MI

How much do homes in 49022, MI cost?

Median Sold Price

$165,000

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$15,050(+10.0%)

Key Takeaway

Homes in 49022 have sold for 10% more than they did a year ago.

Summary: The median home sold price in 49022 was $165,000 in October 2024, up 10% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $57K-
N/A
2 $96.4K$131.5K
+36.3%
3 $163.9K$167K
+1.9%
4 $270K$247.5K
-8.3%
5+ $570K$403.5K
-29.2%

Summary: 49022 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 36.3%, 3 bedroom homes increased by 1.9%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 29.2%.

Median Sold Price Compared To Nearby Zip Codes

49098
+15.6%
49022
+10.0%
49085
+7.2%

Housing Supply in 49022, MI

How many homes are available in 49022, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
108106-1.9%

Summary: The 49022 real estate market had 106 homes for sale in October 2024, a 1.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 2727
0.0%
3 4443
-2.3%
4 2927
-6.9%
5+ 78
+14.3%

Summary: The 49022 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 remained the same, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1827+50.0%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49022, you may be able to get a good deal. 63% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in 49022 in October 2024, up by 50.0% month-over-month. Of the 27 sold homes, 63% were sold under asking, 22% were sold at asking, and 15% were sold over asking.

Days on Market for 49022, MI

How long does it take to sell a home in 49022, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
81 Days62 Days-22.9%

Summary: Homes in 49022 had an average of 62 days on market in Oct 2024, down by 22.9% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 49022 has remained consistent over time.

Summary: During October 2024, 27 homes were sold in 49022; 33% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 19% 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 4 Days Ago

Newest Listings in 49022, MI

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