$82,000
0.60 Acres
Land
Caitlin Anderson, Listing Office: Coldwell Banker Schmidt- Harbor Springs
Is 49720, 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, 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142.5K | $225K | +57.9% |
| 2 Bedrooms | $359K | $360K | 0.3% |
| 3 Bedrooms | $382.5K | $310K | -19.0% |
| 4 Bedrooms | $558.7K | $510K | -8.7% |
| 5+ Bedrooms | $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%.
Housing Supply in 49720, MI
How many homes are available in 49720, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 75 | +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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 12 | 8 | -33.3% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 12 | 14 | +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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 22 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
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.
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