Is 49720, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49720 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 49720 has remained a Seller's Market.

Key Takeaway

49720 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49720, MI

How much do homes in 49720, MI cost?

Median Sold Price

$365,000

$233/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$27,450(-7.0%)

Key Takeaway

Homes in 49720 have sold for 7% less than they did a year ago.

Summary: The median home sold price in 49720 was $365,000 in October 2024, down 7% from last year, and the median price per square foot was $233.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $142.5K$225K
+57.9%
2 $359K$360K
0.3%
3 $382.5K$310K
-19.0%
4 $558.7K$510K
-8.7%
5+ $799K$750K
-6.1%

Summary: 49720 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.9%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 19%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes decreased by 6.1%.

Median Sold Price Compared To Nearby Zip Codes

49727
+32.4%
49712
+8.8%
49770
+4.4%
49720
-7.0%

Housing Supply in 49720, MI

How many homes are available in 49720, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7375+2.7%

Summary: The 49720 real estate market had 75 homes for sale in October 2024, a 2.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 56
+20.0%
2 128
-33.3%
3 2527
+8.0%
4 1920
+5.3%
5+ 1214
+16.7%

Summary: The 49720 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 16.7%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
13130.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49720, you may be able to get a good deal. 69.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in 49720 in October 2024, the same as the previous month. Of the 13 sold homes, 69% were sold under asking, 15% were sold at asking, and 15% were sold over asking.

Days on Market for 49720, MI

How long does it take to sell a home in 49720, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days22 Days+7.1%

Summary: Homes in 49720 had an average of 22 days on market in Oct 2024, up by 7.1% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49720 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in 49720; 8% of homes were sold within 30 days, 8% 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 4 Days Ago

Newest Listings in 49720, MI

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