Is Bay City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Bay City has remained a Seller's Market.
Housing Prices in Bay City, MI
How much do homes in Bay City, MI cost?
Median Sold Price
$130,000
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Bay City was $130,000 in April 2024, up 17.1% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65K | $55.5K | -14.6% |
2 Bedrooms | $85.7K | $113.2K | +32.1% |
3 Bedrooms | $114K | $140.5K | +23.2% |
4 Bedrooms | $129.9K | $132.5K | +2.0% |
5+ Bedrooms | $120K | $162K | +35.0% |
Summary: Bay City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.6%, 2 bedroom homes increased by 32.1%, 3 bedroom homes increased by 23.2%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 35%.
Median Sold Price Compared To Nearby Cities
Bay City | $111K | $130K | +17.1% |
Bangor Charter Township | $167.5K | $179.2K | +7.0% |
Housing Supply in Bay City, MI
How many homes are available in Bay City, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
121 | 157 | +29.8% |
Summary: The Bay City real estate market had 157 homes for sale in April 2024, a 29.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 22 | 25 | +13.6% |
3 Bedrooms | 51 | 72 | +41.2% |
4 Bedrooms | 33 | 43 | +30.3% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Bay City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 41.2%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 36 | +89.5% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Bay City in April 2024, up by 89.5% month-over-month. Of the 36 sold homes, 42% were sold under asking, 19% were sold at asking, and 39% were sold over asking.
Days on Market for Bay City, MI
How long does it take to sell a home in Bay City, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
18 Days | 34 Days | +88.9% |
Summary: Homes in Bay City had an average of 34 days on market in Apr 2024, up by 88.9% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 36 homes were sold in Bay City; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.