$2,672 Closing Credit*
$225,000
2,558 SqFt
3 Beds
•2 Full Baths
Tim Murray, Listing Office: Coldwell Banker Real Estate Group
Is Niles, 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, Niles has remained a Seller's Market.
Key Takeaway
Niles is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Niles, MI
How much do homes in Niles, MI cost?
Median Sold Price
$184,975
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,181(+4.6%)
Key Takeaway
Homes in Niles have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Niles was $184,975 in November 2024, up 4.6% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76K | $142K | +86.8% |
| 2 Bedrooms | $138K | $140K | +1.4% |
| 3 Bedrooms | $174.9K | $185K | +5.8% |
| 4 Bedrooms | $272K | $250K | -8.1% |
| 5+ Bedrooms | $420K | $480.5K | +14.4% |
Summary: Niles housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 86.8%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes decreased by 8.1%, and 5+ bedroom homes increased by 14.4%.
Median Sold Price Compared To Nearby Cities
| Niles | $176.7K | $184.9K | +4.6% |
| Niles Township | $179.9K | $185K | +2.8% |
| Howard Township | $219.5K | $212.5K | -3.2% |
Housing Supply in Niles, MI
How many homes are available in Niles, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 160 | 149 | -6.9% |
Summary: The Niles real estate market had 149 homes for sale in November 2024, a 6.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 29 | 25 | -13.8% |
| 3 Bedrooms | 73 | 71 | -2.7% |
| 4 Bedrooms | 37 | 32 | -13.5% |
| 5+ Bedrooms | 20 | 20 | 0.0% |
Summary: The Niles 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 decreased by 13.8%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 13.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 42 | 28 | -33.3% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Niles, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Niles in November 2024, down by 33.3% month-over-month. Of the 28 sold homes, 64% were sold under asking, 14% were sold at asking, and 21% were sold over asking.
Days on Market for Niles, MI
How long does it take to sell a home in Niles, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 24 Days | 20 Days | -18.4% |
Summary: Homes in Niles had an average of 20 days on market in Nov 2024, down by 18.4% compared to last year.
Breakdown of Home Sale Times
21 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 Niles are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 28 homes were sold in Niles; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
