$3,432 Closing Credit*
$289,000
1,593 SqFt
3 Beds
•1 Full Bath, 1 Partial
David Gaddy, Listing Office: Bellabay Realty LLC
Is Portage, 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, Portage has remained a Seller's Market.
Key Takeaway
Portage is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Portage, MI
How much do homes in Portage, MI cost?
Median Sold Price
$285,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$23,500(+9.0%)
Key Takeaway
Homes in Portage have sold for 9% more than they did a year ago.
Summary: The median home sold price in Portage was $285,000 in November 2024, up 9% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $98.5K | $90.5K | -8.1% |
| 2 Bedrooms | $176.2K | $192.5K | +9.2% |
| 3 Bedrooms | $242.7K | $260K | +7.1% |
| 4 Bedrooms | $325K | $335K | +3.1% |
| 5+ Bedrooms | $449.9K | $431.7K | -4.0% |
Summary: Portage housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.1%, 2 bedroom homes increased by 9.2%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.1%, and 5+ bedroom homes decreased by 4%.
Median Sold Price Compared To Nearby Cities
| Pavilion Township | $300K | $350K | +16.7% |
| Scotts | $302.4K | $340K | +12.4% |
| Portage | $261.5K | $285K | +9.0% |
| Comstock Charter Township | $253K | $265.5K | +5.0% |
| Kalamazoo | $219.7K | $230.3K | +4.8% |
Housing Supply in Portage, MI
How many homes are available in Portage, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 187 | 168 | -10.2% |
Summary: The Portage real estate market had 168 homes for sale in November 2024, a 10.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 29 | 26 | -10.3% |
| 3 Bedrooms | 79 | 71 | -10.1% |
| 4 Bedrooms | 60 | 53 | -11.7% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Portage housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 10.1%, 4 bedroom homes decreased by 11.7%, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 47 | -16.1% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Portage, you may be able to get a good deal. 61.7% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in Portage in November 2024, down by 16.1% month-over-month. Of the 47 sold homes, 62% were sold under asking, 21% were sold at asking, and 17% were sold over asking.
Days on Market for Portage, MI
How long does it take to sell a home in Portage, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 29 Days | +41.7% |
Summary: Homes in Portage had an average of 29 days on market in Nov 2024, up by 41.7% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Portage are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 47 homes were sold in Portage; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.