$190,000
0.24 Acres
Land
Fay Salmaci, Listing Office: ARG Realty
Is Riverview, 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, Riverview has remained a Seller's Market.
Key Takeaway
Riverview is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverview, MI
How much do homes in Riverview, MI cost?
Median Sold Price
$202,500
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,500(+1.3%)
Key Takeaway
Homes in Riverview have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Riverview was $202,500 in October 2024, up 1.3% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $175K | $186K | +6.3% |
| 3 Bedrooms | $179K | $188K | +5.0% |
| 4 Bedrooms | $287.5K | $320K | +11.3% |
| 5+ Bedrooms | $329.9K | $355K | +7.6% |
Summary: Riverview 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 6.3%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Southgate | $179.1K | $195.7K | +9.3% |
| Wyandotte | $180K | $190K | +5.6% |
| Grosse Ile Township | $353.2K | $370K | +4.7% |
| Trenton | $225K | $235K | +4.4% |
| Riverview | $200K | $202.5K | +1.3% |
Housing Supply in Riverview, MI
How many homes are available in Riverview, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 28 | -22.2% |
Summary: The Riverview real estate market had 28 homes for sale in October 2024, a 22.2% 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 | 2 | 4 | +100.0% |
| 3 Bedrooms | 19 | 14 | -26.3% |
| 4 Bedrooms | 14 | 8 | -42.9% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Riverview 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 increased by 100%, 3 bedroom homes decreased by 26.3%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 7 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverview, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Riverview in October 2024, down by 50.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Riverview, MI
How long does it take to sell a home in Riverview, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 10 Days | 26 Days | +163.4% |
Summary: Homes in Riverview had an average of 26 days on market in Oct 2024, up by 163.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverview are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Riverview; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
