Is 49855, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49855 is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, 49855 has remained a Seller's Market.

Key Takeaway

49855 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49855, MI

How much do homes in 49855, MI cost?

Median Sold Price

$320,000

$235/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$2,000(-0.6%)

Key Takeaway

Homes in 49855 have sold for 0.6% less than they did a month ago.

Summary: The median home sold price in 49855 was $320,000 in October 2024, down 0.6% from last month, and the median price per square foot was $235.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $252.5K$250K
-1.0%
3 $271K$303.9K
+12.2%
4 $366.7K$460.4K
+25.5%
5+ $410K$355K
-13.4%

Summary: 49855 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 decreased by 1%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 25.5%, and 5+ bedroom homes decreased by 13.4%.

Median Sold Price Compared To Nearby Zip Codes

49849
+29.8%
49855
-0.6%
49841
-8.5%
49866
-11.7%

Housing Supply in 49855, MI

How many homes are available in 49855, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8879-10.2%

Summary: The 49855 real estate market had 79 homes for sale in October 2024, a 10.2% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 1914
-26.3%
3 3024
-20.0%
4 2428
+16.7%
5+ 1513
-13.3%

Summary: The 49855 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 decreased by 26.3%, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 13.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2721-22.2%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49855, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.

Summary: A total of 21 homes were sold or pending in 49855 in October 2024, down by 22.2% month-over-month. Of the 21 sold homes, 43% were sold under asking, 5% were sold at asking, and 52% were sold over asking.

Days on Market for 49855, MI

How long does it take to sell a home in 49855, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
23 Days28 Days+19.7%

Summary: Homes in 49855 had an average of 28 days on market in Oct 2024, up by 19.7% compared to last month.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49855 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 21 homes were sold in 49855; 71% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 5% 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 13 Days Ago

Newest Listings in 49855, MI

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