$8,313 Closing Credit*
$700,000
1,430 SqFt
3 Beds
•2 Full Baths
Maris Laporter, Listing Office: The Charles Reinhart Company
Is Central, 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, Central has remained a Seller's Market.
Key Takeaway
Central is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Central, MI
How much do homes in Central, MI cost?
Median Sold Price
$632,999
$443/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$50,499(+8.7%)
Key Takeaway
Homes in Central have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Central was $632,999 in October 2024, up 8.7% from last year, and the median price per square foot was $443.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.5K | $264K | -20.6% |
| 2 Bedrooms | $565K | $665K | +17.7% |
| 3 Bedrooms | $620K | $650K | +4.8% |
| 4 Bedrooms | $972.5K | $793.6K | -18.4% |
| 5+ Bedrooms | $1.2M | $1.2M | -5.1% |
Summary: Central housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.6%, 2 bedroom homes increased by 17.7%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 18.4%, and 5+ bedroom homes decreased by 5.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Bach | $566K | $629.9K | +11.3% |
| Central | $582.5K | $632.9K | +8.7% |
| Downtown | $545.5K | $456K | -16.4% |
Housing Supply in Central, MI
How many homes are available in Central, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 51 | 49 | -3.9% |
Summary: The Central real estate market had 49 homes for sale in October 2024, a 3.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 6 | -33.3% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Central housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 19 | +137.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Central in October 2024, up by 137.5% month-over-month. Of the 19 sold homes, 42% were sold under asking, 21% were sold at asking, and 37% were sold over asking.
Days on Market for Central, MI
How long does it take to sell a home in Central, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 28 Days | -37.4% |
Summary: Homes in Central had an average of 28 days on market in Oct 2024, down by 37.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in Central; 63% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
