Is 49098, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49098 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 49098 has remained a Seller's Market.

Key Takeaway

49098 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49098, MI

How much do homes in 49098, MI cost?

Median Sold Price

$268,880

$157/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$36,380(+15.6%)

Key Takeaway

Homes in 49098 have sold for 15.6% more than they did a year ago.

Summary: The median home sold price in 49098 was $268,880 in October 2024, up 15.6% from last year, and the median price per square foot was $157.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $154K$94.5K
-38.6%
2 $143K$176.8K
+23.6%
3 $235K$207K
-11.9%
4 $327.5K$279.9K
-14.5%
5+ $982.4K$549.5K
-44.1%

Summary: 49098 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.6%, 2 bedroom homes increased by 23.6%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes decreased by 14.5%, and 5+ bedroom homes decreased by 44.1%.

Median Sold Price Compared To Nearby Zip Codes

49098
+15.6%
49022
+10.0%
49038
-2.6%

Housing Supply in 49098, MI

How many homes are available in 49098, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
4441-6.8%

Summary: The 49098 real estate market had 41 homes for sale in October 2024, a 6.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 33
0.0%
3 1411
-21.4%
4 2424
0.0%
5+ 33
0.0%

Summary: The 49098 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 21.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
612+100.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49098, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 49098 in October 2024, up by 100.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 49098, MI

How long does it take to sell a home in 49098, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
85 Days84 Days-1.1%

Summary: Homes in 49098 had an average of 84 days on market in Oct 2024, down by 1.1% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 49098 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 12 homes were sold in 49098; 25% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 42% 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 49098, MI

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