Is Montague, 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, Montague has remained a Seller's Market.
Key Takeaway
Montague is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montague, MI
How much do homes in Montague, MI cost?
Median Sold Price
$250,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Montague have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Montague was $250,000 in May 2024, up 8.7% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $50K | -37.5% |
| 2 Bedrooms | $175K | $174.9K | -0.1% |
| 3 Bedrooms | $225K | $245K | +8.9% |
| 4 Bedrooms | $240K | $299.5K | +24.8% |
| 5+ Bedrooms | $326.5K | $369.9K | +13.3% |
Summary: Montague housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.5%, 2 bedroom homes decreased by 0.1%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes increased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Montague | $230K | $250K | +8.7% |
| Montague Township | $230K | $250K | +8.7% |
| Whitehall | $291.2K | $288.9K | -0.8% |
Housing Supply in Montague, MI
How many homes are available in Montague, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 36 | +20.0% |
Summary: The Montague real estate market had 36 homes for sale in May 2024, a 20.0% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Montague 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 25%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montague, 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 Montague in May 2024, up by 33.3% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Montague, MI
How long does it take to sell a home in Montague, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 30 Days | +17.5% |
Summary: Homes in Montague had an average of 30 days on market in May 2024, up by 17.5% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Montague are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Montague; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.