Is Three Rivers, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Three Rivers was a Seller's Market.
Housing Prices in Three Rivers, MI
How much do homes in Three Rivers, MI cost?
Median Sold Price
$220,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Three Rivers was $220,000 in May 2024, up 6.3% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $80K | $157.5K | +96.9% |
2 Bedrooms | $144.9K | $145K | 0.1% |
3 Bedrooms | $200K | $210K | +5.0% |
4 Bedrooms | $245.9K | $274.9K | +11.8% |
5+ Bedrooms | $300.5K | $275K | -8.5% |
Summary: Three Rivers housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 96.9%, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 8.5%.
Median Sold Price Compared To Nearby Cities
Lockport Township | $241.1K | $260K | +7.8% |
Three Rivers | $207K | $220K | +6.3% |
Housing Supply in Three Rivers, MI
How many homes are available in Three Rivers, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
67 | 75 | +11.9% |
Summary: The Three Rivers real estate market had 75 homes for sale in May 2024, a 11.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 6 | 10 | +66.7% |
3 Bedrooms | 34 | 37 | +8.8% |
4 Bedrooms | 20 | 21 | +5.0% |
5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Three Rivers housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 11 | -26.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Three Rivers in May 2024, down by 26.7% month-over-month. Of the 11 sold homes, 64% were sold under asking, 27% were sold at asking, and 9% were sold over asking.
Days on Market for Three Rivers, MI
How long does it take to sell a home in Three Rivers, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
32 Days | 26 Days | -19.3% |
Summary: Homes in Three Rivers had an average of 26 days on market in May 2024, down by 19.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Three Rivers; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.