$4,986 Closing Credit*
$419,900
1,321 SqFt
3 Beds
•2 Full Baths
Tia Rieck, Listing Office: Coldwell Banker Schmidt Traverse City
Is 49686, 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, 49686 has remained a Seller's Market.
Key Takeaway
49686 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 49686, MI
How much do homes in 49686, MI cost?
Median Sold Price
$414,000
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$8,500(-2.0%)
Key Takeaway
Homes in 49686 have sold for 2% less than they did a year ago.
Summary: The median home sold price in 49686 was $414,000 in October 2024, down 2% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $255K | -10.5% |
| 2 Bedrooms | $310K | $315K | +1.6% |
| 3 Bedrooms | $414K | $395K | -4.6% |
| 4 Bedrooms | $644.5K | $745K | +15.6% |
| 5+ Bedrooms | $1.1M | $785K | -31.7% |
Summary: 49686 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes decreased by 31.7%.
Median Sold Price Compared To Nearby Zip Codes
| 49690 | $419K | $543K | +29.6% |
| 49686 | $422.5K | $414K | -2.0% |
Housing Supply in 49686, MI
How many homes are available in 49686, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 165 | 174 | +5.5% |
Summary: The 49686 real estate market had 174 homes for sale in October 2024, a 5.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 50 | 54 | +8.0% |
| 3 Bedrooms | 57 | 60 | +5.3% |
| 4 Bedrooms | 33 | 37 | +12.1% |
| 5+ Bedrooms | 16 | 14 | -12.5% |
Summary: The 49686 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 8%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 41 | +36.7% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 49686, you may be able to get a good deal. 42.5% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in 49686 in October 2024, up by 36.7% month-over-month. Of the 40 sold homes, 43% were sold under asking, 28% were sold at asking, and 30% were sold over asking.
Days on Market for 49686, MI
How long does it take to sell a home in 49686, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 73 Days | +26.9% |
Summary: Homes in 49686 had an average of 73 days on market in Oct 2024, up by 26.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 49686 has remained consistent over time.
Summary: During October 2024, 41 homes were sold in 49686; 17% of homes were sold within 30 days, 59% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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