49931 Housing Market Report February 2025•Houghton County, Michigan

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Housing Prices in 49931, MI

How much do homes in 49931, MI cost?

Housing Market Conditions

Is 49931, 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

49931 is a Seller's Market

Difference Since January 2025

Last month, 49931 has remained a Seller's Market.

Insight

49931 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.
$249,000$126/SqFt
-$251,000
-50.2%

Based on all homes sold in February 2025

Insight

Homes in 49931 have sold for 50.2% less than they did a month ago.

Summary: The median home sold price in 49931 was $249,000 in February 2025, down 50.2% from last month, and the median price per square foot was $126.

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.
BedsJan 2025Feb 2025Change MoM
1--
N/A
2--
N/A
3-$179.5K
N/A
4-$250K
N/A
5$500K-
N/A

Summary: 49931 housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in 49931, MI

How many homes are available in 49931, 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
10Last MonthFeb 2025
102 months agoJan 2025
0.0 %
Change MoMJan – Feb

Summary: The 49931 real estate market had 10 homes for sale in Feb 2025, the same as 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
5Last MonthFeb 2025
22 months agoJan 2025
+150.0 %
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
100
0.0%
211
0.0%
323
+50.0%
445
+25.0%
531
-66.7%

Summary: 49931 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 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +50.0%. The inventory for 4 bedroom homes increased by +25.0%. The inventory for 5 bedroom homes decreased by -66.7%.

Asking Price vs. Sold Price

How much do homes in 49931, 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 Price2 Homes

Under Asking Price2 Homes

Insight

If you're buying a home in 49931, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 49931 in February 2025, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and and 20% were sold over asking.

Days on Market for 49931, MI

How long does it take to sell a home in 49931, MI?

Breakdown of Home Sale Times

Under 30 Days3 Homes

30 – 90 Days2 Homes

Over 90 Days0 Home

Insight

Many homes in 49931 are selling fast, if you're buying plan to act quickly.

Summary: During February 2025, 5 homes were sold in 49931; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% 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.
Last Month1 month agoChange MoM
31 DaysLast MonthFeb 2025
122 Days1 month agoJan 2025
-74.4 %
Change MoMJan – Feb

Summary: Homes in 49931 had an average listing age of 31 days in Feb 2025, down by 74.4% compared to the previous month.

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Newest Listings in 49931, MI

What homes are available in 49931, MI?

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MLS Disclaimers and Copyright

Based on information from MiRealSource Inc. DL, for the period 01/01/2025 - 03/01/2025

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 9:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.