$4,274 Closing Credit*
$359,900
2,214 SqFt
4 Beds
•2 Full Baths, 1 Partial
Kristin Neal, Listing Office: Bellabay Realty LLC
Is Ravenna, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$275,280
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,280(+8.0%)
Key Takeaway
Homes in Ravenna have sold for 8% more than they did a year ago.
Summary: The median home sold price in Ravenna was $275,280 in November 2024, up 8% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $256.4K | $235.5K | -8.2% |
| 3 Bedrooms | $227.5K | $261.5K | +14.9% |
| 4 Bedrooms | $304.2K | $305K | 0.3% |
| 5+ Bedrooms | $331K | $430.5K | +30.1% |
Summary: Ravenna housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 30.1%.
Median Sold Price Compared To Nearby Cities
| Ravenna | $255K | $275.2K | +8.0% |
| Ravenna Township | $259.9K | $275.2K | +5.9% |
Housing Supply in Ravenna, MI
How many homes are available in Ravenna, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 17 | -15.0% |
Summary: The Ravenna real estate market had 17 homes for sale in November 2024, a 15.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Ravenna housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ravenna, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Ravenna in November 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 12 Days | -68.4% |
Summary: Homes in Ravenna had an average of 12 days on market in Nov 2024, down by 68.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were 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 November 2024, 3 homes were sold in Ravenna; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
