Is Caledonia, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Caledonia has remained a Seller's Market.
Key Takeaway
Caledonia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Caledonia, MI
How much do homes in Caledonia, MI cost?
Median Sold Price
$389,933
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Caledonia have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Caledonia was $389,933 in May 2024, up 5.4% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $345K | $225K | -34.8% |
| 2 Bedrooms | $269.9K | $310.5K | +15.0% |
| 3 Bedrooms | $335K | $370K | +10.4% |
| 4 Bedrooms | $435K | $420K | -3.4% |
| 5+ Bedrooms | $535K | $521.5K | -2.5% |
Summary: Caledonia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.8%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 2.5%.
Median Sold Price Compared To Nearby Cities
| Caledonia | $370K | $389.9K | +5.4% |
| Caledonia Township | $385K | $395.3K | +2.7% |
Housing Supply in Caledonia, MI
How many homes are available in Caledonia, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 85 | +21.4% |
Summary: The Caledonia real estate market had 85 homes for sale in May 2024, a 21.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 27 | 28 | +3.7% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 9 | 18 | +100.0% |
Summary: The Caledonia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 21 | -25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Caledonia, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Caledonia in May 2024, down by 25.0% month-over-month. Of the 21 sold homes, 24% were sold under asking, 33% were sold at asking, and 43% were sold over asking.
Days on Market for Caledonia, MI
How long does it take to sell a home in Caledonia, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 28 Days | +82.3% |
Summary: Homes in Caledonia had an average of 28 days on market in May 2024, up by 82.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Caledonia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 21 homes were sold in Caledonia; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
