Is Ionia, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Ionia was a Neutral Market.
Key Takeaway
Ionia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ionia, MI
How much do homes in Ionia, MI cost?
Median Sold Price
$196,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ionia have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Ionia was $196,000 in May 2024, up 10.5% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $139K | $156.5K | +12.6% |
| 2 Bedrooms | $140K | $143.7K | +2.7% |
| 3 Bedrooms | $172.5K | $200K | +15.9% |
| 4 Bedrooms | $240K | $219K | -8.8% |
| 5+ Bedrooms | $180K | $227.5K | +26.4% |
Summary: Ionia housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.6%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes increased by 26.4%.
Median Sold Price Compared To Nearby Cities
| Ionia Township | $176.4K | $197.5K | +11.9% |
| Ionia | $177.4K | $196K | +10.5% |
| Easton Township | $223K | $217.5K | -2.5% |
| Berlin Township | $270K | $253K | -6.3% |
Housing Supply in Ionia, MI
How many homes are available in Ionia, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 46 | -11.5% |
Summary: The Ionia real estate market had 46 homes for sale in May 2024, a 11.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 27 | 20 | -25.9% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Ionia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 25.9%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ionia, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Ionia in May 2024, down by 15.8% month-over-month. Of the 16 sold homes, 31% were sold under asking, 19% were sold at asking, and 50% were sold over asking.
Days on Market for Ionia, MI
How long does it take to sell a home in Ionia, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 28 Days | +172.3% |
Summary: Homes in Ionia had an average of 28 days on market in May 2024, up by 172.3% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ionia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in Ionia; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
