49740 Housing Market Report February 2025•Emmet County, Michigan

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Housing Prices in 49740, MI

How much do homes in 49740, MI cost?

Housing Market Conditions

Is 49740, 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

49740 is a Neutral Market

Difference Since February 2024

At the same time last year, 49740 was a Seller's Market.

Insight

49740 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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.
$500,000$274/SqFt

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 49740 has remained the same since last year.

Summary: The median home sold price in 49740 was $500,000 in February 2025, the same as last year, and the median price per square foot was $274.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
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
49740
0.0%
49706
-13.9%

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.
BedsFeb 2024Feb 2025Change YoY
1$220K$299K
+35.9%
2$435K$434.5K
-0.1%
3$453.5K$493K
+8.7%
4$750K$650K
-13.3%
5$950K$1.2M
+36.1%

Summary: 49740 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +35.9%. The home price for 2 bedroom homes decreased by -0.1%. The home price for 3 bedroom homes increased by +8.7%. The home price for 4 bedroom homes decreased by -13.3%. The home price for 5 bedroom homes increased by +36.1%.

Housing supply in 49740, MI

How many homes are available in 49740, 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
69Last MonthFeb 2025
572 months agoJan 2025
+21.1 %
Change MoMJan – Feb

Summary: The 49740 real estate market had 69 homes for sale in Feb 2025, a 21.1 % increase compared to Jan 2025.

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
10Last MonthFeb 2025
52 months agoJan 2025
+100.0 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
144
0.0%
41719
+11.8%
51012
+20.0%
278
+14.3%
31926
+36.8%

Summary: 49740 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 4 bedroom homes increased by +11.8%. The inventory for 5 bedroom homes increased by +20.0%. The inventory for 2 bedroom homes increased by +14.3%. The inventory for 3 bedroom homes increased by +36.8%.

Asking Price vs. Sold Price

How much do homes in 49740, 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 Price5 Homes

Under Asking Price4 Homes

Insight

If you're buying a home in 49740, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Summary: A total of 10 homes were sold or pending in 49740 in February 2025, up by 100.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 50% were sold at asking, and and 10% were sold over asking.

Days on Market for 49740, MI

We’re sorry, we don't have information for this market at the moment.

Home sale times aren’t available for this area.

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Newest Listings in 49740, MI

What homes are available in 49740, MI?

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MLS Disclaimers and Copyright

Based on information from Northern Michigan MLS, Water Wonderland MLS Inc., RealComp II Ltd., and Michigan Regional Information Center LLC for the period 03/01/2023 - 03/01/2025

IDX The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing about said listings includes the listing office information. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2025 NM-MLS. 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: 3/12/2025, 2:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX © 2025 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/12/2025, 2:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2025 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/12/2025, 2:14:15 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 3/12/2025, 12:50:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.