Is Montrose, 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, Montrose has remained a Seller's Market.
Key Takeaway
Montrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montrose, MI
How much do homes in Montrose, MI cost?
Median Sold Price
$185,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Montrose have sold for 14.2% more than they did a year ago.
Summary: The median home sold price in Montrose was $185,000 in May 2024, up 14.2% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $110.5K | $135K | +22.2% |
| 3 Bedrooms | $167.5K | $178.5K | +6.6% |
| 4 Bedrooms | $217.5K | $245K | +12.6% |
| 5+ Bedrooms | $118.3K | $172.5K | +45.7% |
Summary: Montrose 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 22.2%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes increased by 45.7%.
Median Sold Price Compared To Nearby Cities
| Montrose | $162K | $185K | +14.2% |
| Montrose Charter Township | $167K | $187.8K | +12.5% |
Housing Supply in Montrose, MI
How many homes are available in Montrose, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 22 | -15.4% |
Summary: The Montrose real estate market had 22 homes for sale in May 2024, a 15.4% decrease 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 14 | 12 | -14.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Montrose 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 33.3%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 6 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montrose, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Montrose in May 2024, the same as the previous month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Montrose, MI
How long does it take to sell a home in Montrose, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 18 Days | +53.2% |
Summary: Homes in Montrose had an average of 18 days on market in May 2024, up by 53.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montrose are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Montrose; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
