Is Marshall, 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, Marshall was a Seller's Market.
Housing Prices in Marshall, MI
How much do homes in Marshall, MI cost?
Median Sold Price
$240,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Marshall was $240,000 in May 2024, up 9.8% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127.5K | - | N/A |
2 Bedrooms | $155K | $175K | +12.9% |
3 Bedrooms | $197.5K | $225K | +13.9% |
4 Bedrooms | $277.9K | $309.9K | +11.5% |
5+ Bedrooms | $305K | $355K | +16.4% |
Summary: Marshall 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 12.9%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 16.4%.
Median Sold Price Compared To Nearby Cities
Marshall Township | $215K | $240K | +11.6% |
Marshall | $218.5K | $240K | +9.8% |
Housing Supply in Marshall, MI
How many homes are available in Marshall, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 60 | +9.1% |
Summary: The Marshall real estate market had 60 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 | 10 | 12 | +20.0% |
3 Bedrooms | 28 | 31 | +10.7% |
4 Bedrooms | 13 | 13 | 0.0% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Marshall 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 20%, 3 bedroom homes increased by 10.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 9 | -47.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Marshall in May 2024, down by 47.1% month-over-month. Of the 9 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Marshall, MI
How long does it take to sell a home in Marshall, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
51 Days | 42 Days | -19.2% |
Summary: Homes in Marshall had an average of 42 days on market in May 2024, down by 19.2% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Marshall; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.