$2,611 Closing Credit*
$219,900
1,121 SqFt
3 Beds
•1 Full Bath
Ali Abdallah, Listing Office: RE/MAX Team 2000
Is Southwest, 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, Southwest has remained a Seller's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, MI
How much do homes in Southwest, MI cost?
Median Sold Price
$218,500
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,500(+17.5%)
Key Takeaway
Homes in Southwest have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Southwest was $218,500 in October 2024, up 17.5% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $142.1K | $160K | +12.6% |
| 3 Bedrooms | $189.5K | $223K | +17.7% |
| 4 Bedrooms | $221K | $272.5K | +23.3% |
| 5+ Bedrooms | $160K | $292K | +82.5% |
Summary: Southwest 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 12.6%, 3 bedroom homes increased by 17.7%, 4 bedroom homes increased by 23.3%, and 5+ bedroom homes increased by 82.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Southwest | $186K | $218.5K | +17.5% |
| Snow Woods | $212.5K | $235K | +10.6% |
| Duvall / Edison | $225K | $247K | +9.8% |
Housing Supply in Southwest, MI
How many homes are available in Southwest, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The Southwest real estate market had 20 homes for sale in October 2024, a 4.8% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Southwest 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 25%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Southwest in October 2024, the same as the previous month. Of the 9 sold homes, 22% were sold under asking, 11% were sold at asking, and 67% were sold over asking.
Days on Market for Southwest, MI
How long does it take to sell a home in Southwest, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 8 Days | -32.1% |
Summary: Homes in Southwest had an average of 8 days on market in Oct 2024, down by 32.1% compared to last year.
Breakdown of Home Sale Times
8 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 Southwest are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Southwest; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
