Is Colon, MI 49040 a buyer’s or seller’s market?

The Colon housing market right now

In the three months ending August 31, 2026, 6% of homes in Colon, MI 49040 sold above their list price, the typical home went under contract in 25 days and there were 3.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 17 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 21%, homes sold faster (41 days then) and the median sale price rose 34% to $273,881. Overall, Colon is less competitive than a year ago, which gives buyers more room.

Within St. Joseph County, homes here sell faster than in 67% of the county’s ZIP codes, and sell less often over asking than in 57%. On our competition score, Colon ranks #461 of 510 MI ZIP codes with enough sales (score 29 out of 100).

Nearby, buyers who want less competition could look at Mendon 49072 (0% sold over asking) or Centreville 49032 (0% sold over asking), while Constantine 49042 (33% sold over asking) and Sturgis 49091 (22% sold over asking) are even more competitive.