Is Bear Creek Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Bear Creek Township was a Seller's Market.
Key Takeaway
Bear Creek Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bear Creek Township, MI
How much do homes in Bear Creek Township, MI cost?
Median Sold Price
$371,650
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bear Creek Township have sold for 6.5% less than they did a year ago.
Summary: The median home sold price in Bear Creek Township was $371,650 in May 2024, down 6.5% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $267.5K | $279.9K | +4.6% |
| 2 Bedrooms | $229.9K | $270.2K | +17.5% |
| 3 Bedrooms | $385.2K | $395K | +2.5% |
| 4 Bedrooms | $577.5K | $629K | +8.9% |
| 5+ Bedrooms | $972.5K | - | N/A |
Summary: Bear Creek Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.6%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 2.5%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Petoskey | $422.5K | $440K | +4.1% |
| Resort Township | $515K | $520K | +1.0% |
| Little Traverse Township | $410K | $413K | +0.7% |
| Bear Creek Township | $397.5K | $371.6K | -6.5% |
| Springvale Township | $450K | $414.9K | -7.8% |
Housing Supply in Bear Creek Township, MI
How many homes are available in Bear Creek Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 61 | +144.0% |
Summary: The Bear Creek Township real estate market had 61 homes for sale in May 2024, a 144.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 8 | +60.0% |
| 3 Bedrooms | 11 | 28 | +154.5% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 17 | +750.0% |
Summary: The Bear Creek Township 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 increased by 60%, 3 bedroom homes increased by 154.5%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 750%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bear Creek Township, expect to pay close to the asking price. 60% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Bear Creek Township in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for Bear Creek Township, MI
We’re sorry, we don't have information for this market at the moment
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