$2,850 Closing Credit*
$240,000
1,608 SqFt
2 Beds
•2 Full Baths
Nick Sandborn, Listing Office: Sandborn Real Estate
Is Portland, 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, Portland was a Buyer's Market.
Key Takeaway
Portland 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 Portland, MI
How much do homes in Portland, MI cost?
Median Sold Price
$245,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,250(+6.2%)
Key Takeaway
Homes in Portland have sold for 6.2% more than they did a year ago.
Summary: The median home sold price in Portland was $245,000 in October 2024, up 6.2% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $135.5K | $174.9K | +29.1% |
| 3 Bedrooms | $230K | $226.5K | -1.5% |
| 4 Bedrooms | $295K | $272.5K | -7.6% |
| 5+ Bedrooms | $478.2K | $333.4K | -30.3% |
Summary: Portland housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.1%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes decreased by 30.3%.
Median Sold Price Compared To Nearby Cities
| Portland | $230.7K | $245K | +6.2% |
| Portland Township | $233K | $245K | +5.2% |
Housing Supply in Portland, MI
How many homes are available in Portland, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 18 | 20 | +11.1% |
Summary: The Portland real estate market had 20 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Portland 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 increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Portland, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Portland in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Portland, MI
How long does it take to sell a home in Portland, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 49 Days | 43 Days | -12.5% |
Summary: Homes in Portland had an average of 43 days on market in Oct 2024, down by 12.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Portland has remained consistent over time.
Summary: During October 2024, 3 homes were sold in Portland; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% 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.