Is 49854, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49854 is a neutral's market

Buyer's
Market

Difference Since Last Month

Last month, 49854 was a Seller's Market.

Key Takeaway

49854 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 49854, MI

How much do homes in 49854, MI cost?

Median Sold Price

$220,000

$182/sqft

Based on all homes sold in October 2024.

The Median Sold Price hasn't changed since September 2024.

Key Takeaway

The sold price of homes in 49854 has remained the same since last month.

Summary: The median home sold price in 49854 was $220,000 in October 2024, the same as last month, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 -$225K
N/A
2 $114.2K$317.5K
+177.9%
3 $290K$181.8K
-37.3%
4 -$157.5K
N/A
5+ --
N/A

Summary: 49854 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 177.9%, 3 bedroom homes decreased by 37.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 49854, MI

How many homes are available in 49854, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3638+5.6%

Summary: The 49854 real estate market had 38 homes for sale in October 2024, a 5.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 34
+33.3%
2 1113
+18.2%
3 119
-18.2%
4 89
+12.5%
5+ 33
0.0%

Summary: The 49854 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49854, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 49854 in October 2024, down by 25.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for 49854, MI

How long does it take to sell a home in 49854, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
82 Days34 Days-58.2%

Summary: Homes in 49854 had an average of 34 days on market in Oct 2024, down by 58.2% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49854 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in 49854; 50% of homes were sold within 30 days, 50% 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 49854, MI

Nearby Markets to 49854, MI