Is Free Soil, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Free Soil is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Free Soil has remained a Seller's Market.

Key Takeaway

Free Soil is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Free Soil, MI

How much do homes in Free Soil, MI cost?

Median Sold Price

$311,250

$263/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$116,250(+59.6%)

Key Takeaway

Homes in Free Soil have sold for 59.6% more than they did a year ago.

Summary: The median home sold price in Free Soil was $311,250 in May 2024, up 59.6% from last year, and the median price per square foot was $263.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $124K-
N/A
2 $260K$385K
+48.1%
3 $182.5K$296.7K
+62.6%
4 $282.5K$294.7K
+4.3%
5+ $534.8K$1.0M
+96.5%

Summary: Free Soil 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 increased by 48.1%, 3 bedroom homes increased by 62.6%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 96.5%.

Median Sold Price Compared To Nearby Cities

Free Soil
+59.6%
Free Soil Township
+59.6%

Housing Supply in Free Soil, MI

How many homes are available in Free Soil, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
97-22.2%

Summary: The Free Soil real estate market had 7 homes for sale in May 2024, a 22.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 20
-100.0%
3 66
0.0%
4 11
0.0%
5+ 00
0.0%

Summary: The Free Soil 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 decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Free Soil, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Free Soil in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.

Days on Market for Free Soil, MI

How long does it take to sell a home in Free Soil, MI?

Average Sale Time

May 2023May 2024CHANGE
29 Days79 Days+168.1%

Summary: Homes in Free Soil had an average of 79 days on market in May 2024, up by 168.1% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Free Soil are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 4 homes were sold in Free Soil; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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