Is Inverness Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Inverness Township was a Seller's Market.
Key Takeaway
Inverness 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 Inverness Township, MI
How much do homes in Inverness Township, MI cost?
Median Sold Price
$264,450
$113/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Inverness Township have sold for 18% less than they did a month ago.
Summary: The median home sold price in Inverness Township was $264,450 in May 2024, down 18% from last month, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $205K | $264.4K | +29.0% |
| 4 Bedrooms | $440K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Inverness Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 29%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Beaugrand Township | $260K | $325.7K | +25.3% |
| Inverness Township | $322.5K | $264.4K | -18.0% |
Housing Supply in Inverness Township, MI
How many homes are available in Inverness Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Summary: The Inverness Township real estate market had 12 homes for sale in May 2024, a 9.1% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Inverness 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 increased by 100%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Inverness 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 Inverness Township in May 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Inverness Township, MI
We’re sorry, we don't have information for this market at the moment
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