$4,738 Closing Credit*
$399,000
1,194 SqFt
3 Beds
•2 Full Baths, 1 Partial
James M Chertos, Listing Office: Bellabay Realty (North)
Is Ravenna, 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, Ravenna has remained a Seller's Market.
Key Takeaway
Ravenna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ravenna, MI
How much do homes in Ravenna, MI cost?
Median Sold Price
$273,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$13,100(+5.0%)
Key Takeaway
Homes in Ravenna have sold for 5% more than they did a year ago.
Summary: The median home sold price in Ravenna was $273,000 in October 2024, up 5% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | - | N/A |
| 2 Bedrooms | $261.4K | $235.5K | -9.9% |
| 3 Bedrooms | $223K | $257K | +15.2% |
| 4 Bedrooms | $288.4K | $327.5K | +13.6% |
| 5+ Bedrooms | $331K | $430.5K | +30.1% |
Summary: Ravenna 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 decreased by 9.9%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 13.6%, and 5+ bedroom homes increased by 30.1%.
Median Sold Price Compared To Nearby Cities
| Ravenna | $259.9K | $273K | +5.0% |
| Ravenna Township | $260.9K | $273K | +4.6% |
Housing Supply in Ravenna, MI
How many homes are available in Ravenna, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The Ravenna real estate market had 20 homes for sale in October 2024, a 4.8% decrease 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 | 1 | -66.7% |
| 3 Bedrooms | 12 | 13 | +8.3% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Ravenna 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 66.7%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ravenna, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Ravenna in October 2024, down by 50.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Ravenna, MI
How long does it take to sell a home in Ravenna, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 32 Days | +69.4% |
Summary: Homes in Ravenna had an average of 32 days on market in Oct 2024, up by 69.4% compared to last year.
Breakdown of Home Sale Times
3 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 Ravenna are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Ravenna; 75% of homes were sold within 30 days, 25% 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.