Is Wolverine, 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, Wolverine has remained a Neutral Market.
Key Takeaway
Wolverine is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Wolverine, MI
How much do homes in Wolverine, MI cost?
Median Sold Price
$245,000
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wolverine have sold for 28.9% more than they did a year ago.
Summary: The median home sold price in Wolverine was $245,000 in May 2024, up 28.9% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60K | $280K | +366.7% |
| 2 Bedrooms | $109.5K | $172K | +57.1% |
| 3 Bedrooms | $204K | $352K | +72.5% |
| 4 Bedrooms | $211.2K | $312.4K | +47.9% |
| 5+ Bedrooms | $290K | - | N/A |
Summary: Wolverine housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 366.7%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 72.5%, 4 bedroom homes increased by 47.9%, and 5+ bedroom homes did not change.
Housing Supply in Wolverine, MI
How many homes are available in Wolverine, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Wolverine real estate market had 14 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 2 | 6 | +200.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Wolverine housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wolverine, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Wolverine in May 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Wolverine, MI
How long does it take to sell a home in Wolverine, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wolverine are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Wolverine; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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