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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Armada is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Armada has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Armada, MI

How much do homes in Armada, MI cost?

Median Sold Price

$399,900

$194/sqft

Based on all homes sold in April 2024.

Difference Since Last Month

+$14,900(+3.9%)

Key Takeaway

Homes in Armada have sold for 3.9% more than they did a month ago.

Summary: The median home sold price in Armada was $399,900 in April 2024, up 3.9% from last month, and the median price per square foot was $194.

Median Sold Price By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 --
N/A
2 $220K-
N/A
3 $255K-
N/A
4 $420K$432.4K
+3.0%
5+ -$279K
N/A

Summary: Armada housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 3%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Armada
+3.9%
Armada Township
+3.9%

Housing Supply in Armada, MI

How many homes are available in Armada, MI?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
913+44.4%

Summary: The Armada real estate market had 13 homes for sale in April 2024, a 44.4% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 23
+50.0%
4 46
+50.0%
5+ 13
+200.0%

Summary: The Armada housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 200%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
53-40.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Armada, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Armada in April 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Armada, MI

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

Average Sale Time

Mar 2024Apr 2024CHANGE
62 Days12 Days-80.6%

Summary: Homes in Armada had an average of 12 days on market in Apr 2024, down by 80.6% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 3 homes were sold in Armada; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 19 Days Ago

Newest Listings in Armada, MI

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