Is Presque Isle 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, Presque Isle County was a Neutral Market.
Key Takeaway
Presque Isle County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Presque Isle County, MI
How much do homes in Presque Isle County, MI cost?
Median Sold Price
$194,250
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Presque Isle County have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in Presque Isle County was $194,250 in May 2024, up 14.6% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57K | $97.9K | +71.8% |
| 2 Bedrooms | $143K | $195K | +36.4% |
| 3 Bedrooms | $169.5K | $200.4K | +18.3% |
| 4 Bedrooms | $178K | $239.9K | +34.8% |
| 5+ Bedrooms | $311.5K | $110K | -64.7% |
Summary: Presque Isle County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 71.8%, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 18.3%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes decreased by 64.7%.
Median Sold Price Compared To Nearby Counties
| Cheboygan County | $200K | $240K | +20.0% |
| Presque Isle County | $169.5K | $194.2K | +14.6% |
| Alpena County | $144K | $163.9K | +13.9% |
| Montmorency County | $145K | $159.9K | +10.3% |
Housing Supply in Presque Isle County, MI
How many homes are available in Presque Isle County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 60 | +9.1% |
Summary: The Presque Isle County real estate market had 60 homes for sale in May 2024, a 9.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 16 | 14 | -12.5% |
| 3 Bedrooms | 24 | 31 | +29.2% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Presque Isle 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 decreased by 12.5%, 3 bedroom homes increased by 29.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Presque Isle County, expect to pay close to the asking price. 53.8% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in Presque Isle County in May 2024, up by 8.3% month-over-month. Of the 13 sold homes, 38% were sold under asking, 54% were sold at asking, and 8% were sold over asking.
Days on Market for Presque Isle County, MI
How long does it take to sell a home in Presque Isle County, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Presque Isle County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Presque Isle County; 8% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information 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 about said listings includes the listing office information. 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 NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
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