$200,000
20.30 Acres
Land
Kendra Sweeting, Listing Office: Greenridge Cornell & Associates
Is Plainwell, 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, Plainwell has remained a Seller's Market.
Key Takeaway
Plainwell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Plainwell, MI
How much do homes in Plainwell, MI cost?
Median Sold Price
$263,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$12,000(-4.4%)
Key Takeaway
Homes in Plainwell have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Plainwell was $263,000 in November 2024, down 4.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | - | N/A |
| 2 Bedrooms | $177K | $181K | +2.3% |
| 3 Bedrooms | $250K | $255K | +2.0% |
| 4 Bedrooms | $300K | $380K | +26.7% |
| 5+ Bedrooms | $465K | $425K | -8.6% |
Summary: Plainwell 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 increased by 2.3%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Cities
| Plainwell | $275K | $263K | -4.4% |
| Otsego Township | $265K | $239.3K | -9.7% |
| Gun Plain Township | $325K | $279.9K | -13.9% |
Housing Supply in Plainwell, MI
How many homes are available in Plainwell, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 46 | -4.2% |
Summary: The Plainwell real estate market had 46 homes for sale in November 2024, a 4.2% decrease 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 | 8 | 9 | +12.5% |
| 3 Bedrooms | 26 | 24 | -7.7% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Plainwell 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 increased by 12.5%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Plainwell, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Plainwell in November 2024, down by 33.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for Plainwell, MI
How long does it take to sell a home in Plainwell, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 28 Days | -0.7% |
Summary: Homes in Plainwell had an average of 28 days on market in Nov 2024, down by 0.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Plainwell are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Plainwell; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
