Is Iosco 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, Iosco County was a Buyer's Market.
Housing Prices in Iosco County, MI
How much do homes in Iosco County, MI cost?
Median Sold Price
$169,000
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Iosco County was $169,000 in May 2024, up 16.6% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $82.7K | $79.2K | -4.2% |
2 Bedrooms | $140K | $161.5K | +15.4% |
3 Bedrooms | $145K | $171.5K | +18.3% |
4 Bedrooms | $283K | $207.7K | -26.6% |
5+ Bedrooms | $199.9K | $220K | +10.0% |
Summary: Iosco County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 18.3%, 4 bedroom homes decreased by 26.6%, and 5+ bedroom homes increased by 10%.
Median Sold Price Compared To Nearby Counties
Iosco County | $145K | $169K | +16.6% |
Alcona County | $155.9K | $175K | +12.3% |
Ogemaw County | $139K | $155K | +11.5% |
Arenac County | $148K | $155K | +4.7% |
Housing Supply in Iosco County, MI
How many homes are available in Iosco County, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
125 | 146 | +16.8% |
Summary: The Iosco County real estate market had 146 homes for sale in May 2024, a 16.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 37 | 52 | +40.5% |
3 Bedrooms | 60 | 66 | +10.0% |
4 Bedrooms | 19 | 19 | 0.0% |
5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Iosco County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 40.5%, 3 bedroom homes increased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 28 | -9.7% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in Iosco County in May 2024, down by 9.7% month-over-month. Of the 27 sold homes, 48% were sold under asking, 15% were sold at asking, and 37% were sold over asking.
Days on Market for Iosco County, MI
How long does it take to sell a home in Iosco County, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 52 Days | +89.3% |
Summary: Homes in Iosco County had an average of 52 days on market in May 2024, up by 89.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 28 homes were sold in Iosco County; 36% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.