Is 49251, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49251 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 49251 was a Seller's Market.

Key Takeaway

49251 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 49251, MI

How much do homes in 49251, MI cost?

Median Sold Price

$251,000

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$56,000(+28.7%)

Key Takeaway

Homes in 49251 have sold for 28.7% more than they did a year ago.

Summary: The median home sold price in 49251 was $251,000 in October 2024, up 28.7% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$271K
N/A
2 $137.5K$130K
-5.5%
3 $181K$242K
+33.7%
4 $237.5K$335.4K
+41.2%
5+ $158.4K$452.5K
+185.7%

Summary: 49251 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 decreased by 5.5%, 3 bedroom homes increased by 33.7%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes increased by 185.7%.

Median Sold Price Compared To Nearby Zip Codes

49251
+28.7%
49264
+23.4%
49277
+15.0%
49272
-0.7%

Housing Supply in 49251, MI

How many homes are available in 49251, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2624-7.7%

Summary: The 49251 real estate market had 24 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 1612
-25.0%
4 67
+16.7%
5+ 33
0.0%

Summary: The 49251 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 increased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
92-77.8%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49251, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 2 homes were sold or pending in 49251 in October 2024, down by 77.8% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.

Days on Market for 49251, MI

How long does it take to sell a home in 49251, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
24 Days5 Days-79.9%

Summary: Homes in 49251 had an average of 5 days on market in Oct 2024, down by 79.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49251 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in 49251; 100% of homes were sold within 30 days, 0% 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 49251, MI

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