$75,000
10.36 Acres
Land
Steve Koleno, Listing Office: Beycome Brokerage Realty LLC
Is Rapid River, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Rapid River has remained a Seller's Market.
Key Takeaway
Rapid River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rapid River, MI
How much do homes in Rapid River, MI cost?
Median Sold Price
$311,250
$201/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$51,250(+19.7%)
Key Takeaway
Homes in Rapid River have sold for 19.7% more than they did a month ago.
Summary: The median home sold price in Rapid River was $311,250 in November 2024, up 19.7% from last month, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $341K | - | N/A |
| 2 Bedrooms | $183K | $200K | +9.3% |
| 3 Bedrooms | $199.5K | $342K | +71.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $370K | $227K | -38.6% |
Summary: Rapid River housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.3%, 3 bedroom homes increased by 71.4%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 38.6%.
Median Sold Price Compared To Nearby Cities
| Ensign Township | $183K | $426K | +132.8% |
| Rapid River | $260K | $311.2K | +19.7% |
| Masonville Township | $260K | $308.5K | +18.7% |
Housing Supply in Rapid River, MI
How many homes are available in Rapid River, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 23 | 0.0% |
Summary: The Rapid River real estate market had 23 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Rapid River 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 remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
3 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 Rapid River, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Rapid River in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Rapid River, MI
How long does it take to sell a home in Rapid River, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 51 Days | 18 Days | -63.7% |
Summary: Homes in Rapid River had an average of 18 days on market in Nov 2024, down by 63.7% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rapid River are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Rapid River; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.