Benton Harbor Real Estate & Homes for Sale

In September 2024, Benton Harbor's housing market saw a significant year-over-year decline in home prices, dropping by 47% to a median price of $45,000. Homes are moving much faster, with an average of just 15 days on the market compared to 50 days in the same period last year, highlighting an uptick in buyer interest and competition despite the lower prices. Sales volume has also increased, with 11 homes sold in September this year, up from only 4 the previous year, suggesting renewed activity in the market. The median sale price per square foot currently stands at $56, reflecting a decrease of 13.8%, which may indicate that affordability is drawing in more buyers even as individual property values soften. This overall trend underscores a dynamic market where lower prices and quicker sales are shaping the housing landscape in Benton Harbor.

The Benton Harbor housing market shows a moderate level of competition. On average, homes take about 63 days to sell, with some properties attracting multiple offers, underscoring demand despite the extended time on the market. Typically, homes sell for roughly 3% below the list price and go pending after around 63 days. However, "hot" homes—those with higher buyer interest—often command closer to the list price and go pending in as little as 22 days. This pattern reflects a mix of market dynamics where well-priced or highly desirable properties can move quickly, while others require more time and price adjustments to attract buyers.

Nationally, just 0.37% of homebuyers explored relocating to Benton Harbor from other metropolitan areas, highlighting its niche appeal. Among these potential movers, the largest share came from Chicago, followed by interest from Indianapolis and Detroit. This trend suggests that Benton Harbor is drawing attention mainly from nearby larger cities, potentially due to its affordability and proximity, which may offer a more attractive lifestyle or investment opportunities for buyers from these bustling metros.