Is Chester Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Chester Township was a Seller's Market.
Key Takeaway
Chester 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 Chester Township, MI
How much do homes in Chester Township, MI cost?
Median Sold Price
$223,550
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Chester Township have sold for 11.8% more than they did a year ago.
Summary: The median home sold price in Chester Township was $223,550 in May 2024, up 11.8% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $48K | - | N/A |
| 2 Bedrooms | $160K | $166.2K | +3.9% |
| 3 Bedrooms | $195K | $237.1K | +21.6% |
| 4 Bedrooms | $267K | $393K | +47.2% |
| 5+ Bedrooms | $375K | $486K | +29.6% |
Summary: Chester 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 increased by 3.9%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 47.2%, and 5+ bedroom homes increased by 29.6%.
Median Sold Price Compared To Nearby Cities
| Charlton Township | $176K | $287.4K | +63.3% |
| Otsego Lake Township | $250K | $292K | +16.8% |
| Chester Township | $200K | $223.5K | +11.8% |
| Bagley Township | $269.2K | $248.5K | -7.7% |
Housing Supply in Chester Township, MI
How many homes are available in Chester Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Summary: The Chester Township real estate market had 12 homes for sale in May 2024, a 71.4% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Chester 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 remained the same, 3 bedroom homes increased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chester Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Chester Township in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Chester Township, MI
We’re sorry, we don't have information for this market at the moment
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