Is Arenac County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Arenac County was a Seller's Market.
Key Takeaway
Arenac County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Arenac County, MI
How much do homes in Arenac County, MI cost?
Median Sold Price
$155,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Arenac County have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Arenac County was $155,000 in May 2024, up 4.7% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $110K | -29.0% |
| 2 Bedrooms | $94K | $130K | +38.3% |
| 3 Bedrooms | $155K | $190K | +22.6% |
| 4 Bedrooms | $228.5K | $257.5K | +12.7% |
| 5+ Bedrooms | $28K | $225K | +703.6% |
Summary: Arenac County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29%, 2 bedroom homes increased by 38.3%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 703.6%.
Median Sold Price Compared To Nearby Counties
| Iosco County | $145K | $169K | +16.6% |
| Ogemaw County | $139K | $155K | +11.5% |
| Arenac County | $148K | $155K | +4.7% |
Housing Supply in Arenac County, MI
How many homes are available in Arenac County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 77 | +24.2% |
Summary: The Arenac County real estate market had 77 homes for sale in May 2024, a 24.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 18 | 22 | +22.2% |
| 3 Bedrooms | 28 | 32 | +14.3% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Arenac County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Arenac County, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Arenac County in May 2024, down by 46.7% month-over-month. Of the 8 sold homes, 88% were sold under asking, 13% were sold at asking, and 0% were sold over asking.
Days on Market for Arenac County, MI
How long does it take to sell a home in Arenac County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 68 Days | 36 Days | -46.3% |
Summary: Homes in Arenac County had an average of 36 days on market in May 2024, down by 46.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Arenac County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Arenac County; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.