$3,313 Closing Credit*
$279,000
Peter K. Cachey, Listing Office: Signature Associates Kalamazoo
Is South West Area Neighbors, 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, South West Area Neighbors has remained a Seller's Market.
Key Takeaway
South West Area Neighbors is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South West Area Neighbors, MI
How much do homes in South West Area Neighbors, MI cost?
Median Sold Price
$221,000
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,615(+2.6%)
Key Takeaway
Homes in South West Area Neighbors have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in South West Area Neighbors was $221,000 in October 2024, up 2.6% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $144.9K | $173K | +19.4% |
| 2 Bedrooms | $230K | $177.5K | -22.8% |
| 3 Bedrooms | $178.5K | $236.5K | +32.5% |
| 4 Bedrooms | $230K | $246K | +7.0% |
| 5+ Bedrooms | $217.7K | $238.5K | +9.5% |
Summary: South West Area Neighbors housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.4%, 2 bedroom homes decreased by 22.8%, 3 bedroom homes increased by 32.5%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 9.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Belknap Lookout | $225K | $275K | +22.2% |
| John Ball Park | $285K | $299K | +4.9% |
| South West Area Neighbors | $215.3K | $221K | +2.6% |
Housing Supply in South West Area Neighbors, MI
How many homes are available in South West Area Neighbors, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 10 | -23.1% |
Summary: The South West Area Neighbors real estate market had 10 homes for sale in October 2024, a 23.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South West Area Neighbors 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in South West Area Neighbors, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in South West Area Neighbors in October 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for South West Area Neighbors, MI
How long does it take to sell a home in South West Area Neighbors, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 3 Days | 21 Days | +519.0% |
Summary: Homes in South West Area Neighbors had an average of 21 days on market in Oct 2024, up by 519% compared to last year.
Breakdown of Home Sale Times
2 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 South West Area Neighbors are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in South West Area Neighbors; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
