Is Marion 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, Marion Township has remained a Seller's Market.
Key Takeaway
Marion Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion Township, MI
How much do homes in Marion Township, MI cost?
Median Sold Price
$187,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Marion Township have sold for 13% less than they did a year ago.
Summary: The median home sold price in Marion Township was $187,000 in May 2024, down 13% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $72.5K | -34.1% |
| 2 Bedrooms | $136.2K | $120K | -11.9% |
| 3 Bedrooms | $220.7K | $244.7K | +10.9% |
| 4 Bedrooms | $240.7K | $140.5K | -41.6% |
| 5+ Bedrooms | $481K | $292.4K | -39.2% |
Summary: Marion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes decreased by 11.9%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 41.6%, and 5+ bedroom homes decreased by 39.2%.
Median Sold Price Compared To Nearby Cities
| Eveline Township | $600K | $702.5K | +17.1% |
| Charlevoix Township | $389.9K | $358K | -8.2% |
| Marion Township | $215K | $187K | -13.0% |
Housing Supply in Marion Township, MI
How many homes are available in Marion Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 32 | +60.0% |
Summary: The Marion Township real estate market had 32 homes for sale in May 2024, a 60.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 11 | 18 | +63.6% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Marion Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 300%, 3 bedroom homes increased by 63.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 8 | +300.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Marion Township in May 2024, up by 300.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Marion Township, MI
How long does it take to sell a home in Marion Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 100 Days | 52 Days | -47.6% |
Summary: Homes in Marion Township had an average of 52 days on market in May 2024, down by 47.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Marion Township has remained consistent over time.
Summary: During May 2024, 8 homes were sold in Marion Township; 13% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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