$5,225 Closing Credit*
$440,000
2,146 SqFt
5 Beds
•3 Full Baths, 1 Partial
Karla A Humm, Listing Office: Key Realty
Is Big Rapids, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Big Rapids was a Seller's Market.
Key Takeaway
Big Rapids is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Big Rapids, MI
How much do homes in Big Rapids, MI cost?
Median Sold Price
$210,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,500(+2.2%)
Key Takeaway
Homes in Big Rapids have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Big Rapids was $210,000 in October 2024, up 2.2% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $238K | +64.1% |
| 2 Bedrooms | $169.2K | $137.5K | -18.7% |
| 3 Bedrooms | $189K | $205K | +8.5% |
| 4 Bedrooms | $220K | $235K | +6.8% |
| 5+ Bedrooms | $270K | $277.4K | +2.8% |
Summary: Big Rapids housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.1%, 2 bedroom homes decreased by 18.7%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Big Rapids | $205.5K | $210K | +2.2% |
| Big Rapids Charter Township | $206K | $210K | +1.9% |
Housing Supply in Big Rapids, MI
How many homes are available in Big Rapids, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 79 | 0.0% |
Summary: The Big Rapids real estate market had 79 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 13 | 10 | -23.1% |
| 3 Bedrooms | 30 | 31 | +3.3% |
| 4 Bedrooms | 21 | 20 | -4.8% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Big Rapids housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 23.1%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Big Rapids, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Big Rapids in October 2024, the same as the previous month. Of the 12 sold homes, 25% were sold under asking, 8% were sold at asking, and 67% were sold over asking.
Days on Market for Big Rapids, MI
How long does it take to sell a home in Big Rapids, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 58 Days | 38 Days | -34.1% |
Summary: Homes in Big Rapids had an average of 38 days on market in Oct 2024, down by 34.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Big Rapids has remained consistent over time.
Summary: During October 2024, 12 homes were sold in Big Rapids; 42% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
