Is Hillsdale County, 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, Hillsdale County has remained a Seller's Market.
Key Takeaway
Hillsdale County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hillsdale County, MI
How much do homes in Hillsdale County, MI cost?
Median Sold Price
$189,960
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hillsdale County have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Hillsdale County was $189,960 in May 2024, up 8.5% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.5K | $115K | +17.9% |
| 2 Bedrooms | $134.7K | $159.5K | +18.4% |
| 3 Bedrooms | $175K | $189.2K | +8.2% |
| 4 Bedrooms | $200.5K | $213.5K | +6.5% |
| 5+ Bedrooms | $250K | $258.2K | +3.3% |
Summary: Hillsdale County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.9%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 3.3%.
Median Sold Price Compared To Nearby Counties
| Jackson County | $179.9K | $202.4K | +12.5% |
| Hillsdale County | $175K | $189.9K | +8.5% |
| Calhoun County | $164.3K | $177.2K | +7.8% |
| Lenawee County | $208.9K | $214.3K | +2.6% |
| Williams County | $145K | $148.8K | +2.6% |
Housing Supply in Hillsdale County, MI
How many homes are available in Hillsdale County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 147 | 176 | +19.7% |
Summary: The Hillsdale County real estate market had 176 homes for sale in May 2024, a 19.7% increase 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 | 19 | 25 | +31.6% |
| 3 Bedrooms | 70 | 78 | +11.4% |
| 4 Bedrooms | 41 | 53 | +29.3% |
| 5+ Bedrooms | 17 | 20 | +17.6% |
Summary: The Hillsdale County 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 increased by 31.6%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 29.3%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 40 | 33 | -17.5% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hillsdale County, you may be able to get a good deal. 48.5% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Hillsdale County in May 2024, down by 17.5% month-over-month. Of the 33 sold homes, 48% were sold under asking, 24% were sold at asking, and 27% were sold over asking.
Days on Market for Hillsdale County, MI
How long does it take to sell a home in Hillsdale County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 54 Days | 64 Days | +18.9% |
Summary: Homes in Hillsdale County had an average of 64 days on market in May 2024, up by 18.9% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hillsdale County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in Hillsdale County; 45% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.