$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 Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Rapid River Township has remained a Seller's Market.
Key Takeaway
Rapid River Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rapid River Township, MI
How much do homes in Rapid River Township, MI cost?
Median Sold Price
$215,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$18,000(-7.7%)
Key Takeaway
Homes in Rapid River Township have sold for 7.7% less than they did a year ago.
Summary: The median home sold price in Rapid River Township was $215,000 in October 2024, down 7.7% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $341K | N/A |
| 2 Bedrooms | $152.5K | $178K | +16.7% |
| 3 Bedrooms | $249.9K | $250K | 0.0% |
| 4 Bedrooms | - | $166K | N/A |
| 5+ Bedrooms | - | $370K | N/A |
Summary: Rapid River Township 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 16.7%, 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
| Coldsprings Township | $218.1K | $247K | +13.3% |
| Rapid City | $395K | $415K | +5.1% |
| Custer Township | $285K | $298.7K | +4.8% |
| Rapid River Township | $233K | $215K | -7.7% |
Housing Supply in Rapid River Township, MI
How many homes are available in Rapid River Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 31 | +14.8% |
Summary: The Rapid River Township real estate market had 31 homes for sale in October 2024, a 14.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 9 | 8 | -11.1% |
| 3 Bedrooms | 11 | 15 | +36.4% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Rapid River 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 11.1%, 3 bedroom homes increased by 36.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Rapid River Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Rapid River Township in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Rapid River Township, MI
How long does it take to sell a home in Rapid River Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 64 Days | 42 Days | -33.8% |
Summary: Homes in Rapid River Township had an average of 42 days on market in Oct 2024, down by 33.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rapid River Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Rapid River Township; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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. 
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