$49,900
6.21 Acres
Land
Jackie Makowicki, Listing Office: Five Star Real Estate - Ludington
Is Ludington, 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, Ludington has remained a Seller's Market.
Key Takeaway
Ludington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ludington, MI
How much do homes in Ludington, MI cost?
Median Sold Price
$295,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,000(+6.1%)
Key Takeaway
Homes in Ludington have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Ludington was $295,000 in October 2024, up 6.1% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $209.5K | $210K | 0.2% |
| 2 Bedrooms | $255K | $254K | -0.4% |
| 3 Bedrooms | $265K | $285K | +7.5% |
| 4 Bedrooms | $295K | $350K | +18.6% |
| 5+ Bedrooms | $450K | $570K | +26.7% |
Summary: Ludington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 26.7%.
Median Sold Price Compared To Nearby Cities
| Pere Marquette Charter Township | $287.9K | $349K | +21.2% |
| Ludington | $278K | $295K | +6.1% |
Housing Supply in Ludington, MI
How many homes are available in Ludington, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 68 | 79 | +16.2% |
Summary: The Ludington real estate market had 79 homes for sale in October 2024, a 16.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 16 | 15 | -6.3% |
| 3 Bedrooms | 35 | 46 | +31.4% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Ludington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 31.4%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 15 | +66.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ludington, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Ludington in October 2024, up by 66.7% month-over-month. Of the 15 sold homes, 80% were sold under asking, 7% were sold at asking, and 13% were sold over asking.
Days on Market for Ludington, MI
How long does it take to sell a home in Ludington, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 49 Days | +89.4% |
Summary: Homes in Ludington had an average of 49 days on market in Oct 2024, up by 89.4% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ludington are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Ludington; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.