Is Michigan City, IN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Michigan City is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Michigan City has remained a Seller's Market.

Key Takeaway

Michigan City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Michigan City, IN

How much do homes in Michigan City, IN cost?

Median Sold Price

$274,957

$199/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$150,257(-35.3%)

Key Takeaway

Homes in Michigan City have sold for 35.3% less than they did a month ago.

Summary: The median home sold price in Michigan City was $274,957 in November 2024, down 35.3% from last month, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 --
N/A
3 $688.8K$200K
-71.0%
4 $372.3K$349.9K
-6.0%
5+ --
N/A

Summary: Michigan City housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 71%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes did not change.

Housing Supply in Michigan City, IN

How many homes are available in Michigan City, IN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
98-11.1%

Summary: The Michigan City real estate market had 8 homes for sale in November 2024, a 11.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 00
0.0%
3 66
0.0%
4 21
-50.0%
5+ 11
0.0%

Summary: The Michigan City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Michigan City, expect to pay close to the asking price. 75% of homes here sold near the asking price last month.

Summary: A total of 4 homes were sold or pending in Michigan City in November 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 75% were sold at asking, and 0% were sold over asking.

Days on Market for Michigan City, IN

How long does it take to sell a home in Michigan City, IN?

Average Sale Time

Oct 2024Nov 2024CHANGE
23 Days3 Days-87.0%

Summary: Homes in Michigan City had an average of 3 days on market in Nov 2024, down by 87% compared to last month.

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Michigan City are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 4 homes were sold in Michigan City; 25% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Michigan City, IN

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