$54,900
2.46 Acres
Land
Diana Faust, Listing Office: Heart O' The Hills Realty
Is Addison, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Addison has remained a Seller's Market.
Key Takeaway
Addison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Addison, MI
How much do homes in Addison, MI cost?
Median Sold Price
$250,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,000(+6.4%)
Key Takeaway
Homes in Addison have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Addison was $250,000 in October 2024, up 6.4% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $18K | - | N/A |
| 2 Bedrooms | $197.5K | $223.7K | +13.3% |
| 3 Bedrooms | $240K | $262.5K | +9.4% |
| 4 Bedrooms | $152.9K | $162K | +5.9% |
| 5+ Bedrooms | $340K | $664K | +95.3% |
Summary: Addison housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 95.3%.
Median Sold Price Compared To Nearby Cities
| Rollin Township | $277.5K | $300K | +8.1% |
| Addison | $235K | $250K | +6.4% |
Housing Supply in Addison, MI
How many homes are available in Addison, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Summary: The Addison real estate market had 11 homes for sale in October 2024, a 37.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Addison housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Addison, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Addison in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Addison, MI
How long does it take to sell a home in Addison, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 48 Days | +5.8% |
Summary: Homes in Addison had an average of 48 days on market in Oct 2024, up by 5.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Addison has remained consistent over time.
Summary: During October 2024, 3 homes were sold in Addison; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
