Is Portage Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Portage Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Portage Township has remained a Seller's Market.

Key Takeaway

Portage Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Portage Township, MI

How much do homes in Portage Township, MI cost?

Median Sold Price

$285,000

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$25,000(+9.6%)

Key Takeaway

Homes in Portage Township have sold for 9.6% more than they did a year ago.

Summary: The median home sold price in Portage Township was $285,000 in October 2024, up 9.6% from last year, and the median price per square foot was $196.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $160.5K$86K
-46.4%
2 $183K$210K
+14.8%
3 $245K$256.9K
+4.9%
4 $319K$336.2K
+5.4%
5+ $390.2K$433K
+11.0%

Summary: Portage Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.4%, 2 bedroom homes increased by 14.8%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 11%.

Housing Supply in Portage Township, MI

How many homes are available in Portage Township, MI?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
190185-2.6%

Summary: The Portage Township real estate market had 185 homes for sale in October 2024, a 2.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 11
0.0%
2 3229
-9.4%
3 7175
+5.6%
4 6261
-1.6%
5+ 2419
-20.8%

Summary: The Portage Township 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 decreased by 9.4%, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 20.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
6049-18.3%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Portage Township, you may be able to get a good deal. 53.1% of homes here sold below asking price last month.

Summary: A total of 49 homes were sold or pending in Portage Township in October 2024, down by 18.3% month-over-month. Of the 49 sold homes, 53% were sold under asking, 20% were sold at asking, and 27% were sold over asking.

Days on Market for Portage Township, MI

How long does it take to sell a home in Portage Township, MI?

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days30 Days+38.7%

Summary: Homes in Portage Township had an average of 30 days on market in Oct 2024, up by 38.7% compared to last year.

Breakdown of Home Sale Times

36 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Portage Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 49 homes were sold in Portage Township; 73% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Portage Township, MI

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