Is Norton Shores, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Norton Shores has remained a Seller's Market.
Key Takeaway
Norton Shores is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norton Shores, MI
How much do homes in Norton Shores, MI cost?
Median Sold Price
$255,750
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Norton Shores have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Norton Shores was $255,750 in April 2024, up 8.9% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $138.7K | -25.0% |
| 2 Bedrooms | $165.2K | $190K | +15.0% |
| 3 Bedrooms | $233.5K | $250K | +7.1% |
| 4 Bedrooms | $300K | $310K | +3.3% |
| 5+ Bedrooms | $446K | $474.9K | +6.5% |
Summary: Norton Shores housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Muskegon Heights | $60K | $77.3K | +29.0% |
| Fruitport Charter Township | $260.1K | $302.5K | +16.3% |
| Muskegon | $155.8K | $180.1K | +15.6% |
| Norton Shores | $234.9K | $255.7K | +8.9% |
| Roosevelt Park | $210K | $215K | +2.4% |
Housing Supply in Norton Shores, MI
How many homes are available in Norton Shores, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 87 | 81 | -6.9% |
Summary: The Norton Shores real estate market had 81 homes for sale in April 2024, a 6.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 17 | 14 | -17.6% |
| 3 Bedrooms | 41 | 37 | -9.8% |
| 4 Bedrooms | 21 | 21 | 0.0% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The Norton Shores housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 37 | 24 | -35.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norton Shores, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Norton Shores in April 2024, down by 35.1% month-over-month. Of the 24 sold homes, 46% were sold under asking, 17% were sold at asking, and 38% were sold over asking.
Days on Market for Norton Shores, MI
How long does it take to sell a home in Norton Shores, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 9 Days | 40 Days | +348.6% |
Summary: Homes in Norton Shores had an average of 40 days on market in Apr 2024, up by 348.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norton Shores are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 24 homes were sold in Norton Shores; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
