$10,000 Closing Credit*
$2,195,900
2,220 SqFt
4 Beds
•4 Full Baths, 1 Partial
Sandi L Gentry, Listing Office: RE/MAX Lakeshore
Is Ada, 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, Ada has remained a Seller's Market.
Key Takeaway
Ada is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ada, MI
How much do homes in Ada, MI cost?
Median Sold Price
$650,000
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$62,778(+10.7%)
Key Takeaway
Homes in Ada have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in Ada was $650,000 in October 2024, up 10.7% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $408K | $325K | -20.3% |
| 3 Bedrooms | $500K | $502.5K | 0.5% |
| 4 Bedrooms | $569.2K | $692.5K | +21.7% |
| 5+ Bedrooms | $676K | $830K | +22.8% |
Summary: Ada housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.3%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 22.8%.
Median Sold Price Compared To Nearby Cities
| Vergennes Township | $441K | $525K | +19.0% |
| Ada Township | $575K | $647.4K | +12.6% |
| Ada | $587.2K | $650K | +10.7% |
| Grand Rapids Charter Township | $285K | $309.9K | +8.8% |
| Cascade Charter Township | $548K | $552.5K | +0.8% |
Housing Supply in Ada, MI
How many homes are available in Ada, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 66 | 72 | +9.1% |
Summary: The Ada real estate market had 72 homes for sale in October 2024, a 9.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 19 | 18 | -5.3% |
| 4 Bedrooms | 32 | 30 | -6.3% |
| 5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Ada 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 increased by 200%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 14 | -22.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ada, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Ada in October 2024, down by 22.2% month-over-month. Of the 14 sold homes, 64% were sold under asking, 14% were sold at asking, and 21% were sold over asking.
Days on Market for Ada, MI
How long does it take to sell a home in Ada, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 18 Days | -34.3% |
Summary: Homes in Ada had an average of 18 days on market in Oct 2024, down by 34.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ada are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Ada; 93% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
