Is Montrose Charter 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, Montrose Charter Township has remained a Seller's Market.
Key Takeaway
Montrose Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montrose Charter Township, MI
How much do homes in Montrose Charter Township, MI cost?
Median Sold Price
$187,844
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Montrose Charter Township have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Montrose Charter Township was $187,844 in May 2024, up 12.5% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | - | N/A |
| 2 Bedrooms | $118K | $135K | +14.4% |
| 3 Bedrooms | $168K | $187.4K | +11.6% |
| 4 Bedrooms | $240K | $245K | +2.1% |
| 5+ Bedrooms | $118.3K | $172.5K | +45.7% |
Summary: Montrose Charter 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 increased by 14.4%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 45.7%.
Median Sold Price Compared To Nearby Cities
| Burt | $157K | $180K | +14.6% |
| Montrose | $162K | $185K | +14.2% |
| Montrose Charter Township | $167K | $187.8K | +12.5% |
| Vienna Charter Township | $201.9K | $218.2K | +8.1% |
| Taymouth Township | $183K | $194.5K | +6.3% |
Housing Supply in Montrose Charter Township, MI
How many homes are available in Montrose Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 24 | -17.2% |
Summary: The Montrose Charter Township real estate market had 24 homes for sale in May 2024, a 17.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 17 | 14 | -17.6% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Montrose Charter 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 decreased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montrose Charter Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Montrose Charter Township in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Montrose Charter Township, MI
How long does it take to sell a home in Montrose Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 18 Days | +53.2% |
Summary: Homes in Montrose Charter Township had an average of 18 days on market in May 2024, up by 53.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montrose Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Montrose Charter Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
