$10,000 Closing Credit*
$2,195,000
7,347 SqFt
5 Beds
•7 Full Baths, 1 Partial
Rachael L Veldkamp, Listing Office: RE/MAX of Grand Rapids (FH)
Is Ada, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$675,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$98,250(+17.0%)
Key Takeaway
Homes in Ada have sold for 17% more than they did a year ago.
Summary: The median home sold price in Ada was $675,000 in November 2024, up 17% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $384K | $390K | +1.6% |
| 3 Bedrooms | $491.5K | $511K | +4.0% |
| 4 Bedrooms | $569.1K | $690K | +21.2% |
| 5+ Bedrooms | $675.5K | $825K | +22.1% |
Summary: Ada housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes increased by 22.1%.
Median Sold Price Compared To Nearby Cities
| Vergennes Township | $447.5K | $542.5K | +21.2% |
| Ada | $576.7K | $675K | +17.0% |
| Ada Township | $570K | $650K | +14.0% |
| Cascade Charter Township | $531.2K | $573.3K | +7.9% |
| Grand Rapids Charter Township | $289K | $310K | +7.3% |
Housing Supply in Ada, MI
How many homes are available in Ada, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 72 | 62 | -13.9% |
Summary: The Ada real estate market had 62 homes for sale in November 2024, a 13.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 18 | 17 | -5.6% |
| 4 Bedrooms | 29 | 23 | -20.7% |
| 5+ Bedrooms | 19 | 17 | -10.5% |
Summary: The Ada housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 20.7%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ada, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Ada in November 2024, up by 14.3% month-over-month. Of the 16 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 33 Days | +44.3% |
Summary: Homes in Ada had an average of 33 days on market in Nov 2024, up by 44.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ada are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 16 homes were sold in Ada; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
