$575,000
38.39 Acres
Land
James Edward Newhouse, Listing Office: Ensley Real Estate
Is 49103, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 49103 was a Buyer's Market.
Key Takeaway
49103 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 49103, MI
How much do homes in 49103, MI cost?
Median Sold Price
$306,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$26,000(+9.3%)
Key Takeaway
Homes in 49103 have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in 49103 was $306,000 in October 2024, up 9.3% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $518K | +223.7% |
| 3 Bedrooms | $247.5K | $243.9K | -1.4% |
| 4 Bedrooms | $342.5K | $331K | -3.4% |
| 5+ Bedrooms | $315K | $353K | +12.1% |
Summary: 49103 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 223.7%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 12.1%.
Housing Supply in 49103, MI
How many homes are available in 49103, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 40 | 0.0% |
Summary: The 49103 real estate market had 40 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The 49103 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 11.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49103, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in 49103 in October 2024, the same as the previous month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for 49103, MI
How long does it take to sell a home in 49103, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 26 Days | -48.0% |
Summary: Homes in 49103 had an average of 26 days on market in Oct 2024, down by 48% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49103 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in 49103; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
