Is Burns Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Burns Township has remained a Neutral Market.
Key Takeaway
Burns Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Burns Township, MI
How much do homes in Burns Township, MI cost?
Median Sold Price
$240,000
$164/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Burns Township has remained the same since last year.
Summary: The median home sold price in Burns Township was $240,000 in May 2024, the same as last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $198.5K | $175K | -11.8% |
| 3 Bedrooms | $237K | $231.5K | -2.3% |
| 4 Bedrooms | $302.7K | $267.5K | -11.6% |
| 5+ Bedrooms | $237.1K | $265K | +11.7% |
Summary: Burns Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.8%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 11.6%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Argentine Township | $335K | $355K | +6.0% |
| Burns Township | $240K | $240K | 0.0% |
| Gaines Township | $245K | $238K | -2.9% |
| Byron | $301.2K | $282.5K | -6.2% |
| Vernon Township | $199K | $180K | -9.5% |
Housing Supply in Burns Township, MI
How many homes are available in Burns Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Summary: The Burns Township real estate market had 7 homes for sale in May 2024, a 40.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 6 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Burns Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Burns Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Burns Township in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Burns Township, MI
How long does it take to sell a home in Burns Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 7 Days | -56.3% |
Summary: Homes in Burns Township had an average of 7 days on market in May 2024, down by 56.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burns Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Burns Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
