$8,549 Closing Credit*
$719,900
3,200 SqFt
6 Beds
•4 Full Baths
Donald Fedrigon, Listing Office: REMAX Of Elk Rapids
Is 49690, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 49690 was a Seller's Market.
Key Takeaway
49690 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 49690, MI
How much do homes in 49690, MI cost?
Median Sold Price
$577,500
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$167,050(+40.7%)
Key Takeaway
Homes in 49690 have sold for 40.7% more than they did a year ago.
Summary: The median home sold price in 49690 was $577,500 in November 2024, up 40.7% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $227.5K | $265K | +16.5% |
| 2 Bedrooms | $330.5K | $319.5K | -3.3% |
| 3 Bedrooms | $395K | $543K | +37.5% |
| 4 Bedrooms | $750K | $675K | -10.0% |
| 5+ Bedrooms | $750K | $1.0M | +42.0% |
Summary: 49690 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 37.5%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes increased by 42%.
Housing Supply in 49690, MI
How many homes are available in 49690, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 57 | 0.0% |
Summary: The 49690 real estate market had 57 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The 49690 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 7 | -30.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 49690, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in 49690 in November 2024, down by 30.0% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for 49690, MI
How long does it take to sell a home in 49690, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 68 Days | 123 Days | +79.6% |
Summary: Homes in 49690 had an average of 123 days on market in Nov 2024, up by 79.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in 49690 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 7 homes were sold in 49690; 0% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 57% of homes were sold over 90 days.
The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.