Is 49878, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 49878 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 49878 was a Buyer's Market.

Key Takeaway

49878 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 49878, MI

How much do homes in 49878, MI cost?

Median Sold Price

$260,000

$125/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$15,000(+6.1%)

Key Takeaway

Homes in 49878 have sold for 6.1% more than they did a month ago.

Summary: The median home sold price in 49878 was $260,000 in October 2024, up 6.1% from last month, and the median price per square foot was $125.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 -$341K
N/A
2 $245K$183K
-25.3%
3 -$199.5K
N/A
4 --
N/A
5+ -$370K
N/A

Summary: 49878 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 25.3%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

49837
+9.5%
49878
+6.1%

Housing Supply in 49878, MI

How many homes are available in 49878, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1923+21.1%

Summary: The 49878 real estate market had 23 homes for sale in October 2024, a 21.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 77
0.0%
3 710
+42.9%
4 12
+100.0%
5+ 33
0.0%

Summary: The 49878 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 remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
25+150.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 49878, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 49878 in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.

Days on Market for 49878, MI

How long does it take to sell a home in 49878, MI?

Average Sale Time

Sep 2024Oct 2024CHANGE
77 Days51 Days-34.2%

Summary: Homes in 49878 had an average of 51 days on market in Oct 2024, down by 34.2% compared to last month.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 49878 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 5 homes were sold in 49878; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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 49878, MI

Nearby Markets to 49878, MI