Is Wexford 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, Wexford County was a Buyer's Market.
Key Takeaway
Wexford County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wexford County, MI
How much do homes in Wexford County, MI cost?
Median Sold Price
$216,810
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wexford County have sold for 28.4% more than they did a year ago.
Summary: The median home sold price in Wexford County was $216,810 in May 2024, up 28.4% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47.5K | $145K | +205.3% |
| 2 Bedrooms | $138K | $160K | +15.9% |
| 3 Bedrooms | $180K | $220.5K | +22.5% |
| 4 Bedrooms | $205.2K | $280K | +36.4% |
| 5+ Bedrooms | $265K | $319.5K | +20.6% |
Summary: Wexford County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 205.3%, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 22.5%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 20.6%.
Median Sold Price Compared To Nearby Counties
| Wexford County | $168.9K | $216.8K | +28.4% |
| Missaukee County | $182.5K | $220K | +20.5% |
| Manistee County | $196.5K | $221.5K | +12.7% |
| Osceola County | $155.4K | $167.6K | +7.9% |
| Grand Traverse County | $423.7K | $407.1K | -3.9% |
Housing Supply in Wexford County, MI
How many homes are available in Wexford County, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 117 | 141 | +20.5% |
Summary: The Wexford County real estate market had 141 homes for sale in May 2024, a 20.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 26 | 32 | +23.1% |
| 3 Bedrooms | 53 | 62 | +17.0% |
| 4 Bedrooms | 20 | 24 | +20.0% |
| 5+ Bedrooms | 12 | 16 | +33.3% |
Summary: The Wexford County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 23.1%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wexford County, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Wexford County in May 2024, down by 3.4% month-over-month. Of the 26 sold homes, 42% were sold under asking, 38% were sold at asking, and 19% were sold over asking.
Days on Market for Wexford County, MI
How long does it take to sell a home in Wexford County, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 79 Days | +256.6% |
Summary: Homes in Wexford County had an average of 79 days on market in May 2024, up by 256.6% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wexford County has remained consistent over time.
Summary: During May 2024, 28 homes were sold in Wexford County; 21% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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
© 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.