Is Johannesburg, 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, Johannesburg has remained a Seller's Market.
Key Takeaway
Johannesburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Johannesburg, MI
How much do homes in Johannesburg, MI cost?
Median Sold Price
$210,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Johannesburg have sold for 21.4% more than they did a year ago.
Summary: The median home sold price in Johannesburg was $210,000 in May 2024, up 21.4% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.3K | $98.5K | -41.5% |
| 2 Bedrooms | $129.2K | $180K | +39.3% |
| 3 Bedrooms | $196K | $248.5K | +26.8% |
| 4 Bedrooms | $312K | $326.5K | +4.6% |
| 5+ Bedrooms | - | $185K | N/A |
Summary: Johannesburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41.5%, 2 bedroom homes increased by 39.3%, 3 bedroom homes increased by 26.8%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Charlton Township | $176K | $287.4K | +63.3% |
| Johannesburg | $173K | $210K | +21.4% |
| Chester Township | $200K | $223.5K | +11.8% |
Housing Supply in Johannesburg, MI
How many homes are available in Johannesburg, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 16 | +45.5% |
Summary: The Johannesburg real estate market had 16 homes for sale in May 2024, a 45.5% 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 | 6 | 11 | +83.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Johannesburg 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 83.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Johannesburg, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Johannesburg in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Johannesburg, MI
How long does it take to sell a home in Johannesburg, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Johannesburg has remained consistent over time.
Summary: During May 2024, 5 homes were sold in Johannesburg; 0% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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