Is East Bay 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, East Bay Township has remained a Seller's Market.
Key Takeaway
East Bay Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Bay Township, MI
How much do homes in East Bay Township, MI cost?
Median Sold Price
$370,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Bay Township have sold for 13.9% less than they did a year ago.
Summary: The median home sold price in East Bay Township was $370,000 in May 2024, down 13.9% 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 | - | $325K | N/A |
| 2 Bedrooms | $286.3K | $251.7K | -12.1% |
| 3 Bedrooms | $450K | $343K | -23.8% |
| 4 Bedrooms | $442.5K | $515K | +16.4% |
| 5+ Bedrooms | $950K | $660.2K | -30.5% |
Summary: East Bay Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.1%, 3 bedroom homes decreased by 23.8%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 30.5%.
Median Sold Price Compared To Nearby Cities
| Acme Township | $415K | $458K | +10.4% |
| Traverse City | $428.8K | $425K | -0.9% |
| East Bay Township | $429.8K | $370K | -13.9% |
| Williamsburg | $589K | $492.2K | -16.4% |
Housing Supply in East Bay Township, MI
How many homes are available in East Bay Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 50 | +22.0% |
Summary: The East Bay Township real estate market had 50 homes for sale in May 2024, a 22.0% 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 | 9 | 12 | +33.3% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The East Bay 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 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Bay Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in East Bay Township in May 2024, down by 9.1% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for East Bay Township, MI
How long does it take to sell a home in East Bay Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 106 Days | 59 Days | -44.1% |
Summary: Homes in East Bay Township had an average of 59 days on market in May 2024, down by 44.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in East Bay Township has remained consistent over time.
Summary: During May 2024, 10 homes were sold in East Bay Township; 10% of homes were sold within 30 days, 70% of homes were sold within 30 to 90 days, and 20% 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. 
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.