Is Norton Shores, 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, Norton Shores has remained a Seller's Market.
Housing Prices in Norton Shores, MI
How much do homes in Norton Shores, MI cost?
Median Sold Price
$260,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Norton Shores was $260,000 in May 2024, up 10.7% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $185K | $138.7K | -25.0% |
2 Bedrooms | $162.5K | $190.3K | +17.1% |
3 Bedrooms | $232.2K | $250.5K | +7.9% |
4 Bedrooms | $300K | $322.5K | +7.5% |
5+ Bedrooms | $475K | $475K | 0.0% |
Summary: Norton Shores housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 7.9%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Muskegon Heights | $59.9K | $81.2K | +35.6% |
Fruitport Charter Township | $269.7K | $313.7K | +16.3% |
Norton Shores | $234.9K | $260K | +10.7% |
Muskegon | $169.3K | $183.6K | +8.4% |
Roosevelt Park | $210K | $217K | +3.3% |
Housing Supply in Norton Shores, MI
How many homes are available in Norton Shores, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
81 | 72 | -11.1% |
Summary: The Norton Shores real estate market had 72 homes for sale in May 2024, a 11.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 11 | -15.4% |
3 Bedrooms | 37 | 29 | -21.6% |
4 Bedrooms | 22 | 24 | +9.1% |
5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Norton Shores 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 15.4%, 3 bedroom homes decreased by 21.6%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 25 | -7.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in Norton Shores in May 2024, down by 7.4% month-over-month. Of the 25 sold homes, 52% were sold under asking, 16% were sold at asking, and 32% were sold over asking.
Days on Market for Norton Shores, MI
How long does it take to sell a home in Norton Shores, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 30 Days | +65.8% |
Summary: Homes in Norton Shores had an average of 30 days on market in May 2024, up by 65.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 25 homes were sold in Norton Shores; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.