Is Ogemaw 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, Ogemaw County was a Neutral Market.
Key Takeaway
Ogemaw County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ogemaw County, MI
How much do homes in Ogemaw County, MI cost?
Median Sold Price
$155,000
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ogemaw County have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Ogemaw County was $155,000 in May 2024, up 11.5% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.5K | $80.5K | -17.4% |
| 2 Bedrooms | $94K | $100K | +6.4% |
| 3 Bedrooms | $160K | $190K | +18.8% |
| 4 Bedrooms | $262.5K | $222.5K | -15.2% |
| 5+ Bedrooms | $250K | $292K | +16.8% |
Summary: Ogemaw County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.4%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 15.2%, and 5+ bedroom homes increased by 16.8%.
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% |
| Oscoda County | $130K | $113K | -13.1% |
Housing Supply in Ogemaw County, MI
How many homes are available in Ogemaw County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 101 | 114 | +12.9% |
Summary: The Ogemaw County real estate market had 114 homes for sale in May 2024, a 12.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 31 | 38 | +22.6% |
| 3 Bedrooms | 50 | 52 | +4.0% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Ogemaw County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 22.6%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ogemaw County, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Ogemaw County in May 2024, up by 14.3% month-over-month. Of the 24 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Ogemaw County, MI
How long does it take to sell a home in Ogemaw County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 137 Days | 52 Days | -62.2% |
Summary: Homes in Ogemaw County had an average of 52 days on market in May 2024, down by 62.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ogemaw County has remained consistent over time.
Summary: During May 2024, 24 homes were sold in Ogemaw County; 38% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
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.