Is Tecumseh, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Tecumseh has remained a Seller's Market.
Housing Prices in Tecumseh, MI
How much do homes in Tecumseh, MI cost?
Median Sold Price
$252,500
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Tecumseh was $252,500 in April 2024, up 14.3% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $50K | N/A |
2 Bedrooms | $185K | $210K | +13.5% |
3 Bedrooms | $220K | $240K | +9.1% |
4 Bedrooms | $275K | $265.5K | -3.5% |
5+ Bedrooms | $335K | $360K | +7.5% |
Summary: Tecumseh housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 7.5%.
Median Sold Price Compared To Nearby Cities
Tecumseh | $221K | $252.5K | +14.3% |
Tecumseh Township | $239.5K | $252.5K | +5.4% |
Raisin Township | $261.4K | $270K | +3.3% |
Housing Supply in Tecumseh, MI
How many homes are available in Tecumseh, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
50 | 55 | +10.0% |
Summary: The Tecumseh real estate market had 55 homes for sale in April 2024, a 10.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 6 | 6 | 0.0% |
3 Bedrooms | 32 | 34 | +6.3% |
4 Bedrooms | 8 | 10 | +25.0% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Tecumseh housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 20 | +53.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Tecumseh in April 2024, up by 53.8% month-over-month. Of the 20 sold homes, 40% were sold under asking, 35% were sold at asking, and 25% were sold over asking.
Days on Market for Tecumseh, MI
How long does it take to sell a home in Tecumseh, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
58 Days | 83 Days | +44.2% |
Summary: Homes in Tecumseh had an average of 83 days on market in Apr 2024, up by 44.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 20 homes were sold in Tecumseh; 35% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.