$1,900 Closing Credit*
$160,000
Brian Waite, Listing Office: RE/MAX by the Lake
Is Benton Harbor, 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, Benton Harbor has remained a Seller's Market.
Key Takeaway
Benton Harbor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Benton Harbor, MI
How much do homes in Benton Harbor, MI cost?
Median Sold Price
$180,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$25,000(+16.1%)
Key Takeaway
Homes in Benton Harbor have sold for 16.1% more than they did a year ago.
Summary: The median home sold price in Benton Harbor was $180,000 in November 2024, up 16.1% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57K | - | N/A |
| 2 Bedrooms | $100K | $127.5K | +27.5% |
| 3 Bedrooms | $170K | $179.3K | +5.5% |
| 4 Bedrooms | $304K | $240K | -21.1% |
| 5+ Bedrooms | $380K | $403.5K | +6.2% |
Summary: Benton Harbor 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 27.5%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
| Benton Harbor | $155K | $180K | +16.1% |
| Benton Charter Township | $144.5K | $165K | +14.2% |
| Saint Joseph | $295K | $310K | +5.1% |
Housing Supply in Benton Harbor, MI
How many homes are available in Benton Harbor, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 108 | 103 | -4.6% |
Summary: The Benton Harbor real estate market had 103 homes for sale in November 2024, a 4.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 29 | 28 | -3.4% |
| 3 Bedrooms | 42 | 35 | -16.7% |
| 4 Bedrooms | 30 | 33 | +10.0% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Benton Harbor housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 20 | -33.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benton Harbor, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Benton Harbor in November 2024, down by 33.3% month-over-month. Of the 20 sold homes, 50% were sold under asking, 35% were sold at asking, and 15% were sold over asking.
Days on Market for Benton Harbor, MI
How long does it take to sell a home in Benton Harbor, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 34 Days | +9.0% |
Summary: Homes in Benton Harbor had an average of 34 days on market in Nov 2024, up by 9% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Benton Harbor are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 20 homes were sold in Benton Harbor; 65% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
