Muskegon is currently tilted toward sellers, with the local gauge identifying a seller’s market. Inventory sits at about 2.4 months of supply, which is still lean even though it is up more than 40 percent from a year ago. Typical home values in this rolling three-month view are up nearly 12 percent year over year, signaling that prices have been pushing higher.
Price trends and listing activity help explain this balance. The median list price has climbed roughly 7 percent from a year earlier, while the share of homes selling above list has slipped slightly compared to last year, suggesting buyers are a bit more price sensitive. Homes are also taking longer to sell than they did a year ago, with median days on market more than doubling to about 25 days in the latest rolling period.
Sales volumes show a mixed picture of demand. Closed sales over the past three months are down about 12 percent year over year, and new listings and pending sales are each running around 5 percent lower than a year ago, so fewer homes are both coming to market and going under contract. Even with that cooling, relatively low inventory and rising prices give sellers the upper hand in many negotiations. Buyers and sellers who want to navigate these shifting conditions can turn to Agent Pronto to connect with a Muskegon real estate agent who knows the numbers behind this market.
