Is Ray, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Ray has remained a Buyer's Market.
Key Takeaway
Ray is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ray, MI
How much do homes in Ray, MI cost?
Median Sold Price
$625,000
$259/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Ray have sold for 140.4% more than they did a month ago.
Summary: The median home sold price in Ray was $625,000 in May 2024, up 140.4% from last month, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | - | N/A |
| 4 Bedrooms | $260K | $625K | +140.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Ray housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 140.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ray | $260K | $625K | +140.4% |
| Ray Township | $260K | $625K | +140.4% |
Housing Supply in Ray, MI
How many homes are available in Ray, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Summary: The Ray real estate market had 14 homes for sale in May 2024, a 55.6% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 11 | +120.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Ray 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 remained the same, 3 bedroom homes increased by 120%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ray, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Ray in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Ray, MI
How long does it take to sell a home in Ray, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 Days | 46 Days | -8.0% |
Summary: Homes in Ray had an average of 46 days on market in May 2024, down by 8% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ray has remained consistent over time.
Summary: During May 2024, 1 homes were sold in Ray; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% 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.