Is Schoolcraft Township, 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, Schoolcraft Township has remained a Seller's Market.
Key Takeaway
Schoolcraft Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Schoolcraft Township, MI
How much do homes in Schoolcraft Township, MI cost?
Median Sold Price
$304,500
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Schoolcraft Township have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Schoolcraft Township was $304,500 in May 2024, up 6.8% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103.5K | $154K | +48.8% |
| 2 Bedrooms | $216.7K | $185K | -14.6% |
| 3 Bedrooms | $252K | $277.5K | +10.1% |
| 4 Bedrooms | $317.2K | $324K | +2.1% |
| 5+ Bedrooms | $315K | $393.5K | +24.9% |
Summary: Schoolcraft Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.8%, 2 bedroom homes decreased by 14.6%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 24.9%.
Median Sold Price Compared To Nearby Cities
| Schoolcraft | $313.2K | $357.4K | +14.1% |
| Vicksburg | $260K | $278.4K | +7.1% |
| Schoolcraft Township | $285K | $304.5K | +6.8% |
| Portage | $264.9K | $269.9K | +1.9% |
| Brady Township | $235.1K | $235.5K | 0.2% |
Housing Supply in Schoolcraft Township, MI
How many homes are available in Schoolcraft Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 42 | -12.5% |
Summary: The Schoolcraft Township real estate market had 42 homes for sale in May 2024, a 12.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 18 | 13 | -27.8% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Schoolcraft Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 13 | -35.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Schoolcraft Township, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Schoolcraft Township in May 2024, down by 35.0% month-over-month. Of the 13 sold homes, 8% were sold under asking, 38% were sold at asking, and 54% were sold over asking.
Days on Market for Schoolcraft Township, MI
How long does it take to sell a home in Schoolcraft Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 32 Days | +102.3% |
Summary: Homes in Schoolcraft Township had an average of 32 days on market in May 2024, up by 102.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Schoolcraft Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Schoolcraft Township; 62% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
