49408 Housing Market Report December 2024•Allegan County, Michigan

hero building illustration for mobile

Housing Prices in 49408, MI

How much do homes in 49408, MI cost?

Housing Market Conditions

Is 49408, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

49408 is a Seller's Market

Difference Since December 2023

Since last year, 49408 has remained a Seller's Market.

Insight

49408 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$302,500$212/SqFt
-$112,500
-27.1%

Based on all homes sold in the last 12 months

Insight

Homes in 49408 have sold for 27.1% less than they did a year ago.

Summary: The median home sold price in 49408 was $302,500 in December 2024, down 27.1% from last year, and the median price per square foot was $212.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
49453
+3.3%
49406
-15.2%
49408
-27.1%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$724K$159K
-78.0%
2$375K$230K
-38.7%
3$325K$274K
-15.7%
4$485.1K$389K
-19.8%
5$680K$900K
+32.4%

Summary: 49408 housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -78.0%. The home price for 2 bedroom homes decreased by -38.7%. The home price for 3 bedroom homes decreased by -15.7%. The home price for 4 bedroom homes decreased by -19.8%. The home price for 5 bedroom homes increased by +32.4%.

Housing supply in 49408, MI

How many homes are available in 49408, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
35Last MonthDec 2024
432 months agoNov 2024
-18.6 %
Change MoMNov – Dec

Summary: The 49408 real estate market had 35 homes for sale in Dec 2024, a 18.6 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
7Last MonthDec 2024
122 months agoNov 2024
-41.7 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
2105
-50.0%
31818
0.0%
4129
-25.0%
533
0.0%

Summary: 49408 housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -50.0%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -25.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 49408, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price0 Home

Under Asking Price6 Homes

Insight

If you're buying a home in 49408, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 49408 in December 2024, down by 41.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and and 14% were sold over asking.

Days on Market for 49408, MI

How long does it take to sell a home in 49408, MI?

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days1 Home

Over 90 Days4 Homes

Insight

Most homes in 49408 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During December 2024, 7 homes were sold in 49408; 29% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 57% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
137 DaysThis YearDec 2024
33 Days1 year agoDec 2023
+310.2 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in 49408 had an average listing age of 137 days in Dec 2024, up by 310.2% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in 49408, MI

What homes are available in 49408, MI?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Michigan

MLS Disclaimers and Copyright

Based on information from Michigan Regional Information Center LLC, for the period 01/01/2023 - 01/01/2025

Broker Reciprocity Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2025 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/30/2025, 6:20:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.