Is Addison, 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, Addison has remained a Neutral Market.
Key Takeaway
Addison 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 Addison, MI
How much do homes in Addison, MI cost?
Median Sold Price
$202,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Addison have sold for 14% less than they did a year ago.
Summary: The median home sold price in Addison was $202,000 in April 2024, down 14% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $18K | N/A |
| 2 Bedrooms | $140K | $130K | -7.1% |
| 3 Bedrooms | $235K | $235K | 0.0% |
| 4 Bedrooms | $175K | $145.9K | -16.6% |
| 5+ Bedrooms | $440K | $509.5K | +15.8% |
Summary: Addison housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.1%, 3 bedroom homes did not change, 4 bedroom homes decreased by 16.6%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Woodstock Township | $232.8K | $283.3K | +21.7% |
| Addison | $235K | $202K | -14.0% |
| Rollin Township | $320K | $260K | -18.8% |
Housing Supply in Addison, MI
How many homes are available in Addison, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The Addison real estate market had 12 homes for sale in April 2024, a 33.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Addison housing inventory by bedroom type for April 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 increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Addison, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Addison in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Addison, MI
How long does it take to sell a home in Addison, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Addison has remained consistent over time.
Summary: During April 2024, 2 homes were sold in Addison; 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.