$3,859 Closing Credit*
$325,000
Candice Kops, Listing Office: Five Star Real Estate
Is 49401, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 49401 has remained a Seller's Market.
Key Takeaway
49401 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49401, MI
How much do homes in 49401, MI cost?
Median Sold Price
$415,000
$276/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$49,270(+13.5%)
Key Takeaway
Homes in 49401 have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in 49401 was $415,000 in October 2024, up 13.5% from last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $360K | $317.5K | -11.8% |
| 2 Bedrooms | $344K | $365K | +6.1% |
| 3 Bedrooms | $354.9K | $385K | +8.5% |
| 4 Bedrooms | $364.9K | $430K | +17.8% |
| 5+ Bedrooms | $439.5K | $550.4K | +25.2% |
Summary: 49401 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes increased by 6.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 25.2%.
Housing Supply in 49401, MI
How many homes are available in 49401, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 89 | 90 | +1.1% |
Summary: The 49401 real estate market had 90 homes for sale in October 2024, a 1.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 31 | 29 | -6.5% |
| 4 Bedrooms | 40 | 42 | +5.0% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The 49401 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 6.5%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 24 | +20.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49401, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 49401 in October 2024, up by 20.0% month-over-month. Of the 24 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.
Days on Market for 49401, MI
How long does it take to sell a home in 49401, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 69 Days | 34 Days | -50.3% |
Summary: Homes in 49401 had an average of 34 days on market in Oct 2024, down by 50.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49401 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in 49401; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
