$3,561 Closing Credit*
$299,900
1,484 SqFt
2 Beds
•2 Full Baths
Tom Garbow, Trevor Garbow, Listing Office: Eastbrook Realty
Is 49507, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 49507 has remained a Seller's Market.
Key Takeaway
49507 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49507, MI
How much do homes in 49507, MI cost?
Median Sold Price
$240,812
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$21,395(+9.8%)
Key Takeaway
Homes in 49507 have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in 49507 was $240,812 in November 2024, up 9.8% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112K | $115K | +2.7% |
| 2 Bedrooms | $189K | $210K | +11.1% |
| 3 Bedrooms | $225K | $250K | +11.1% |
| 4 Bedrooms | $230.9K | $242.5K | +5.0% |
| 5+ Bedrooms | $218.7K | $265K | +21.1% |
Summary: 49507 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 21.1%.
Housing Supply in 49507, MI
How many homes are available in 49507, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 105 | 87 | -17.1% |
Summary: The 49507 real estate market had 87 homes for sale in November 2024, a 17.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 63 | 50 | -20.6% |
| 4 Bedrooms | 25 | 20 | -20.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The 49507 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 20.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 22 | -31.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49507, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in 49507 in November 2024, down by 31.3% month-over-month. Of the 22 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for 49507, MI
How long does it take to sell a home in 49507, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 27 Days | +115.2% |
Summary: Homes in 49507 had an average of 27 days on market in Nov 2024, up by 115.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 49507 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in 49507; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.