$4,133 Closing Credit*
$348,000
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 November 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
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$22,500(+8.3%)
Key Takeaway
Homes in Ludington have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Ludington was $295,000 in November 2024, up 8.3% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $209.5K | $212.5K | +1.4% |
| 2 Bedrooms | $268K | $257K | -4.1% |
| 3 Bedrooms | $258.7K | $285K | +10.1% |
| 4 Bedrooms | $297.2K | $371K | +24.8% |
| 5+ Bedrooms | $450K | $520K | +15.6% |
Summary: Ludington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.4%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes increased by 15.6%.
Housing Supply in Ludington, MI
How many homes are available in Ludington, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 76 | 71 | -6.6% |
Summary: The Ludington real estate market had 71 homes for sale in November 2024, a 6.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 45 | 39 | -13.3% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Ludington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ludington, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Ludington in November 2024, down by 25.0% month-over-month. Of the 12 sold homes, 67% were sold under asking, 8% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 74 Days | +202.7% |
Summary: Homes in Ludington had an average of 74 days on market in Nov 2024, up by 202.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ludington has remained consistent over time.
Summary: During November 2024, 12 homes were sold in Ludington; 17% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.
