Is Resort 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, Resort Township has remained a Seller's Market.
Housing Prices in Resort Township, MI
How much do homes in Resort Township, MI cost?
Median Sold Price
$520,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Resort Township was $520,000 in May 2024, up 1% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $250K | $520K | +108.0% |
3 Bedrooms | $435.2K | $480K | +10.3% |
4 Bedrooms | $534.9K | $525K | -1.9% |
5+ Bedrooms | $2.9M | $2.6M | -8.0% |
Summary: Resort 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 108%, 3 bedroom homes increased by 10.3%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 8%.
Median Sold Price Compared To Nearby Cities
Bay Township | $526K | $700K | +33.1% |
Petoskey | $422.5K | $440K | +4.1% |
Resort Township | $515K | $520K | +1.0% |
Bear Creek Township | $397.5K | $371.6K | -6.5% |
Housing Supply in Resort Township, MI
How many homes are available in Resort Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 13 | -7.1% |
Summary: The Resort Township real estate market had 13 homes for sale in May 2024, a 7.1% decrease 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 | 0 | 0 | 0.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Resort 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Resort Township in May 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Resort Township, MI
How long does it take to sell a home in Resort Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
52 Days | 76 Days | +46.2% |
Summary: Homes in Resort Township had an average of 76 days on market in May 2024, up by 46.2% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Resort Township; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.