$24,988
0.19 Acres
Land
Shannon Storino, Listing Office: Mitten Shores Real Estate, LLC
Is Paw Paw, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Paw Paw was a Neutral Market.
Key Takeaway
Paw Paw is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Paw Paw, MI
How much do homes in Paw Paw, MI cost?
Median Sold Price
$271,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$51,000(+23.2%)
Key Takeaway
Homes in Paw Paw have sold for 23.2% more than they did a year ago.
Summary: The median home sold price in Paw Paw was $271,000 in October 2024, up 23.2% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $200K | -34.4% |
| 2 Bedrooms | $155K | $210K | +35.5% |
| 3 Bedrooms | $217.5K | $270K | +24.1% |
| 4 Bedrooms | $305.5K | $295.2K | -3.4% |
| 5+ Bedrooms | $170K | $434.9K | +155.9% |
Summary: Paw Paw housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.4%, 2 bedroom homes increased by 35.5%, 3 bedroom homes increased by 24.1%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes increased by 155.9%.
Median Sold Price Compared To Nearby Cities
| Paw Paw | $220K | $271K | +23.2% |
| Paw Paw Township | $221.9K | $270K | +21.6% |
| Antwerp Township | $285K | $297K | +4.2% |
Housing Supply in Paw Paw, MI
How many homes are available in Paw Paw, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 58 | +11.5% |
Summary: The Paw Paw real estate market had 58 homes for sale in October 2024, a 11.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 22 | 22 | 0.0% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Paw Paw housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 17 | +30.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Paw Paw, you may be able to get a good deal. 52.9% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Paw Paw in October 2024, up by 30.8% month-over-month. Of the 17 sold homes, 53% were sold under asking, 24% were sold at asking, and 24% were sold over asking.
Days on Market for Paw Paw, MI
How long does it take to sell a home in Paw Paw, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 33 Days | +39.1% |
Summary: Homes in Paw Paw had an average of 33 days on market in Oct 2024, up by 39.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Paw Paw are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in Paw Paw; 59% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
