Is New Baltimore, 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, New Baltimore has remained a Seller's Market.
Key Takeaway
New Baltimore is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Baltimore, MI
How much do homes in New Baltimore, MI cost?
Median Sold Price
$385,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Baltimore have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in New Baltimore was $385,000 in May 2024, up 3.2% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $138K | - | N/A |
| 2 Bedrooms | $242.2K | $250K | +3.2% |
| 3 Bedrooms | $340K | $382.5K | +12.5% |
| 4 Bedrooms | $465K | $479.9K | +3.2% |
| 5+ Bedrooms | $780K | $410K | -47.4% |
Summary: New Baltimore 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 3.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 47.4%.
Median Sold Price Compared To Nearby Cities
| Chesterfield Township | $300.3K | $314.9K | +4.9% |
| New Baltimore | $373.1K | $385K | +3.2% |
| Ira Township | $277.5K | $280K | +0.9% |
| Fair Haven | $277.5K | $280K | +0.9% |
Housing Supply in New Baltimore, MI
How many homes are available in New Baltimore, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 68 | +30.8% |
Summary: The New Baltimore real estate market had 68 homes for sale in May 2024, a 30.8% 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 | 5 | 12 | +140.0% |
| 3 Bedrooms | 20 | 29 | +45.0% |
| 4 Bedrooms | 26 | 26 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The New Baltimore 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 140%, 3 bedroom homes increased by 45%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Baltimore, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in New Baltimore in May 2024, up by 6.7% month-over-month. Of the 16 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for New Baltimore, MI
How long does it take to sell a home in New Baltimore, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 68 Days | 78 Days | +15.1% |
Summary: Homes in New Baltimore had an average of 78 days on market in May 2024, up by 15.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Baltimore are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 16 homes were sold in New Baltimore; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.