Is Sanford, 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, Sanford has remained a Seller's Market.
Key Takeaway
Sanford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sanford, MI
How much do homes in Sanford, MI cost?
Median Sold Price
$184,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sanford have sold for 19.8% less than they did a year ago.
Summary: The median home sold price in Sanford was $184,000 in May 2024, down 19.8% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $129K | $141.5K | +9.7% |
| 3 Bedrooms | $199.7K | $186.5K | -6.6% |
| 4 Bedrooms | $324K | $285K | -12.0% |
| 5+ Bedrooms | $570K | $364.7K | -36.0% |
Summary: Sanford 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 9.7%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 12%, and 5+ bedroom homes decreased by 36%.
Median Sold Price Compared To Nearby Cities
| Lincoln Township | $162.5K | $166K | +2.2% |
| Jerome Township | $230K | $226.5K | -1.5% |
| Sanford | $229.5K | $184K | -19.8% |
Housing Supply in Sanford, MI
How many homes are available in Sanford, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Sanford real estate market had 17 homes for sale in May 2024, a 6.3% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Sanford 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 25%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sanford, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Sanford in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Sanford, MI
How long does it take to sell a home in Sanford, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 51 Days | 6 Days | -88.3% |
Summary: Homes in Sanford had an average of 6 days on market in May 2024, down by 88.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sanford are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Sanford; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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