Is Surrey 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, Surrey Township has remained a Seller's Market.
Housing Prices in Surrey Township, MI
How much do homes in Surrey Township, MI cost?
Median Sold Price
$125,000
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Surrey Township was $125,000 in May 2024, up 13.6% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $56.5K | $49.5K | -12.4% |
2 Bedrooms | $52K | $96.5K | +85.6% |
3 Bedrooms | $128.5K | $144.5K | +12.5% |
4 Bedrooms | $164.5K | $230K | +39.8% |
5+ Bedrooms | - | - | N/A |
Summary: Surrey Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.4%, 2 bedroom homes increased by 85.6%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 39.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Lake | $125K | $147K | +17.6% |
Surrey Township | $110K | $125K | +13.6% |
Lincoln Township | $149.5K | $153K | +2.3% |
Farwell | $190K | $149.9K | -21.1% |
Housing Supply in Surrey Township, MI
How many homes are available in Surrey Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 22 | +10.0% |
Summary: The Surrey Township real estate market had 22 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 6 | 12 | +100.0% |
3 Bedrooms | 9 | 7 | -22.2% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Surrey Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 7 | +75.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Surrey Township in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Surrey Township, MI
How long does it take to sell a home in Surrey Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 57 Days | +69.7% |
Summary: Homes in Surrey Township had an average of 57 days on market in May 2024, up by 69.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Surrey Township; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.