$1,128 Closing Credit*
$95,000
1,021 SqFt
3 Beds
•1 Full Bath
Christopher Davenport, Listing Office: Front Page Properties
Is River Rouge, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, River Rouge was a Seller's Market.
Key Takeaway
River Rouge is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in River Rouge, MI
How much do homes in River Rouge, MI cost?
Median Sold Price
$91,000
$73/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$15,600(+20.7%)
Key Takeaway
Homes in River Rouge have sold for 20.7% more than they did a year ago.
Summary: The median home sold price in River Rouge was $91,000 in December 2024, up 20.7% from last year, and the median price per square foot was $73.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | - | N/A |
| 2 Bedrooms | $55.5K | $67.5K | +21.6% |
| 3 Bedrooms | $75.8K | $97.9K | +29.2% |
| 4 Bedrooms | $84.1K | $99K | +17.7% |
| 5+ Bedrooms | $72.5K | $89K | +22.8% |
Summary: River Rouge housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 17.7%, and 5+ bedroom homes increased by 22.8%.
Housing Supply in River Rouge, MI
How many homes are available in River Rouge, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 31 | 30 | -3.2% |
Summary: The River Rouge real estate market had 30 homes for sale in December 2024, a 3.2% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The River Rouge housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in River Rouge, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in River Rouge in December 2024, down by 37.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 60% were sold at asking, and 20% were sold over asking.
Days on Market for River Rouge, MI
How long does it take to sell a home in River Rouge, MI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 37 Days | 51 Days | +36.3% |
Summary: Homes in River Rouge had an average of 51 days on market in Dec 2024, up by 36.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in River Rouge has remained consistent over time.
Summary: During December 2024, 5 homes were sold in River Rouge; 20% of homes were sold within 30 days, 80% 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.