Is Ludington, MI 49431 a buyer’s or seller’s market?
Ludington is a seller’s market. With about 3.7 months of supply and 15% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 27% of U.S. ZIP codes, and #453 of 510 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Ludington housing market right now
In the three months ending August 31, 2026, 15% of homes in Ludington, MI 49431 sold above their list price, the typical home went under contract in 49 days and there were 3.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 64 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 7%, homes sold more slowly (40 days then) and the median sale price rose 27% to $352,348. Overall, Ludington is more competitive than a year ago, so tougher for buyers.
Within Mason County, homes here sell more slowly than in any other ZIP code in the county, and sell more often over asking than in 50%. On our competition score, Ludington ranks #453 of 510 MI ZIP codes with enough sales (score 30 out of 100).
Nearby, buyers who want less competition could look at Free Soil 49411 (0% sold over asking), while Fountain 49410 (42% sold over asking) and Scottville 49454 (20% sold over asking) are even more competitive.
Run the numbers for 49431
Nearby markets
Custer 49405Seller’s market $197 /sq ftFountain 49410Seller’s market $177 /sq ftFree Soil 49411Buyer’s market $235 /sq ftScottville 49454Buyer’s market $176 /sq ft Browse all markets →Towns like Ludington nearby
Find towns like Ludington in other states →Where Ludington is
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Questions about Ludington real estate
Is Ludington a buyer’s or seller’s market?
A seller’s market: there were 3.7 months of supply in Ludington, MI 49431 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Ludington?
The typical home went under contract in 49 days in the latest three months.
Do homes in Ludington sell over asking?
15% of homes sold above their original list price, and the typical sale closed at 96.3% of the list price.
What are property taxes in Ludington?
About 1.06% of a home’s value a year in Mason County, or roughly $4,240 on a $400,000 home.
What is the median home price in Ludington?
The median sale price was $352,348 in the three months ending August 31, 2026, about $203 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology