$653 Closing Credit*
$55,000
1,955 SqFt
2 Full Baths
Danny Peterson, Listing Office: EXP Realty LLC
Is Palmer Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Palmer Park was a Seller's Market.
Key Takeaway
Palmer Park is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Palmer Park, MI
How much do homes in Palmer Park, MI cost?
Median Sold Price
$350,000
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$15,000(-4.1%)
Key Takeaway
Homes in Palmer Park have sold for 4.1% less than they did a year ago.
Summary: The median home sold price in Palmer Park was $350,000 in November 2024, down 4.1% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $176K | $140K | -20.5% |
| 3 Bedrooms | $245K | $297.5K | +21.4% |
| 4 Bedrooms | $410K | $348.2K | -15.1% |
| 5+ Bedrooms | $450K | $433.4K | -3.7% |
Summary: Palmer Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.5%, 3 bedroom homes increased by 21.4%, 4 bedroom homes decreased by 15.1%, and 5+ bedroom homes decreased by 3.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Green Acres | $229K | $269K | +17.5% |
| Palmer Park | $365K | $350K | -4.1% |
| University District | $365K | $350K | -4.1% |
Housing Supply in Palmer Park, MI
How many homes are available in Palmer Park, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 42 | +16.7% |
Summary: The Palmer Park real estate market had 42 homes for sale in November 2024, a 16.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 15 | 21 | +40.0% |
Summary: The Palmer Park 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 12.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 6 | -14.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmer Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Palmer Park in November 2024, down by 14.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Palmer Park, MI
How long does it take to sell a home in Palmer Park, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 62 Days | +291.7% |
Summary: Homes in Palmer Park had an average of 62 days on market in Nov 2024, up by 291.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Palmer Park has remained consistent over time.
Summary: During November 2024, 6 homes were sold in Palmer Park; 33% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 17% 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.