Is 49420, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49420 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 49420 has remained a Seller's Market.

Key Takeaway

49420 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49420, MI

How much do homes in 49420, MI cost?

Median Sold Price

$232,450

$168/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$42,000(+22.1%)

Key Takeaway

Homes in 49420 have sold for 22.1% more than they did a year ago.

Summary: The median home sold price in 49420 was $232,450 in October 2024, up 22.1% from last year, and the median price per square foot was $168.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $110K$138K
+25.5%
2 $155K$204.9K
+32.2%
3 $230K$248K
+7.8%
4 $150K$427.9K
+185.3%
5+ $232.5K$232.5K
0.0%

Summary: 49420 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.5%, 2 bedroom homes increased by 32.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 185.3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

49420
+22.1%
49449
+11.6%
49455
0.0%
49436
-4.6%

Housing Supply in 49420, MI

How many homes are available in 49420, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2524-4.0%

Summary: The 49420 real estate market had 24 homes for sale in October 2024, a 4.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 67
+16.7%
3 98
-11.1%
4 66
0.0%
5+ 33
0.0%

Summary: The 49420 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
57+40.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49420, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 49420 in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.

Days on Market for 49420, MI

How long does it take to sell a home in 49420, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
93 Days27 Days-70.5%

Summary: Homes in 49420 had an average of 27 days on market in Oct 2024, down by 70.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49420 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 7 homes were sold in 49420; 71% of homes were sold within 30 days, 29% 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 20 Days Ago

Newest Listings in 49420, MI

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