$4,738 Closing Credit*
$399,000
1,728 SqFt
4 Beds
•2 Full Baths
#50161566, CHRISTINA KING-CARON, Listing Office: UPWARDS REAL ESTATE
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
Last month, Rapid River was a Buyer'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
$260,000
$125/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$15,000(+6.1%)
Key Takeaway
Homes in Rapid River have sold for 6.1% more than they did a month ago.
Summary: The median home sold price in Rapid River was $260,000 in October 2024, up 6.1% from last month, and the median price per square foot was $125.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $341K | N/A |
| 2 Bedrooms | $245K | $183K | -25.3% |
| 3 Bedrooms | - | $199.5K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $370K | N/A |
Summary: Rapid River housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 25.3%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Rapid River | $245K | $260K | +6.1% |
| Masonville Township | $410K | $260K | -36.6% |
Housing Supply in Rapid River, MI
How many homes are available in Rapid River, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Summary: The Rapid River real estate market had 23 homes for sale in October 2024, a 21.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Rapid River 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 remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 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. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Rapid River in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 Days | 51 Days | -34.2% |
Summary: Homes in Rapid River had an average of 51 days on market in Oct 2024, down by 34.2% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 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 October 2024, 5 homes were sold in Rapid River; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.