$1,769 Closing Credit*
$149,000
1,248 SqFt
3 Beds
•1 Full Bath
Michelle Bundy, Listing Office: Century 21 Metro Brokers-Davison
Is Silverwood, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Silverwood has remained a Seller's Market.
Key Takeaway
Silverwood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silverwood, MI
How much do homes in Silverwood, MI cost?
Median Sold Price
$88,600
$89/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$71,400(-44.6%)
Key Takeaway
Homes in Silverwood have sold for 44.6% less than they did a month ago.
Summary: The median home sold price in Silverwood was $88,600 in November 2024, down 44.6% from last month, and the median price per square foot was $89.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $245K | $71K | -71.0% |
| 3 Bedrooms | - | $106.2K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Silverwood housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 71%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Silverwood, MI
How many homes are available in Silverwood, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Summary: The Silverwood real estate market had 5 homes for sale in November 2024, a 16.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Silverwood housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silverwood, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Silverwood in November 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Silverwood, MI
How long does it take to sell a home in Silverwood, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 200 Days | 220 Days | +10.0% |
Summary: Homes in Silverwood had an average of 220 days on market in Nov 2024, up by 10% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Silverwood are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Silverwood; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
