Niles, MI 49120 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary indicator of recent market value is the median sold price: 182,000, which, combined with a reported up price year-over-year trend, suggests modest appreciation—sellers may be able to capture gains but buyers should expect prices to be trending higher.
2. The median listing price is 240,000, creating a substantive gap versus recent transaction prices that suggests pricing friction; sellers should align list strategy with recent sold-price evidence and buyers should consider appraisal risk when making offers.
3. The median days on market is 263, a signal of slower transaction velocity despite the upward price trend; this implies liquidity is stretched and sellers may need longer marketing windows or targeted incentives to close.
4. Interest rate dynamics and rental context are noteworthy: interest rate pressure is described as elevated with current 30-year fixed mortgage rates at 6.6% (versus 5.7% earlier in 2026), while median market rent is 957, and rent is reported up; investors and buyers should factor higher borrowing costs into purchase underwriting and consider rent dynamics when evaluating cashflow and affordability.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.