$499,000
1.96 Acres
Land
Leonard A Pickett III, Listing Office: RCH Brokerage Legacy Inc
Is Central Business District, 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, Central Business District has remained a Buyer's Market.
Key Takeaway
Central Business District is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Central Business District, MI
How much do homes in Central Business District, MI cost?
Median Sold Price
$325,000
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$30,000(-8.5%)
Key Takeaway
Homes in Central Business District have sold for 8.5% less than they did a year ago.
Summary: The median home sold price in Central Business District was $325,000 in November 2024, down 8.5% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $203.7K | -9.4% |
| 2 Bedrooms | $386K | $337.5K | -12.6% |
| 3 Bedrooms | $544K | $1.1M | +111.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Central Business District housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.4%, 2 bedroom homes decreased by 12.6%, 3 bedroom homes increased by 111.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Central Business District, MI
How many homes are available in Central Business District, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Summary: The Central Business District real estate market had 20 homes for sale in November 2024, a 25.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 6 | 8 | +33.3% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Central Business District housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 0 | 1 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Business District, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Central Business District in November 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Central Business District, MI
How long does it take to sell a home in Central Business District, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 8 Days | 7 Days | -12.5% |
Summary: Homes in Central Business District had an average of 7 days on market in Nov 2024, down by 12.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Business District are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in Central Business District; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.