$1,424 Closing Credit*
$119,900
1,500 SqFt
3 Beds
•2 Full Baths
Dawn M Muma, Listing Office: AAA McNamara Properties Inc
Is Arbela Township, 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, Arbela Township has remained a Seller's Market.
Key Takeaway
Arbela Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Arbela Township, MI
How much do homes in Arbela Township, MI cost?
Median Sold Price
$185,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,000(+9.5%)
Key Takeaway
Homes in Arbela Township have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Arbela Township was $185,000 in October 2024, up 9.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115K | $113K | -1.7% |
| 3 Bedrooms | $175K | $190K | +8.6% |
| 4 Bedrooms | $145K | $245.5K | +69.3% |
| 5+ Bedrooms | - | - | N/A |
Summary: Arbela Township 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 decreased by 1.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 69.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Arbela Township | $169K | $185K | +9.5% |
| Thetford Township | $182.6K | $194.9K | +6.7% |
| Tuscola Township | $208K | $220K | +5.8% |
| Vassar Township | $165K | $170K | +3.0% |
| Millington Township | $185K | $190K | +2.7% |
Housing Supply in Arbela Township, MI
How many homes are available in Arbela Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Summary: The Arbela Township real estate market had 13 homes for sale in October 2024, a 7.1% decrease 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 8 | 7 | -12.5% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Arbela Township 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 remained the same, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 4 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Arbela Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Arbela Township in October 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Arbela Township, MI
How long does it take to sell a home in Arbela Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 5 Days | 42 Days | +750.0% |
Summary: Homes in Arbela Township had an average of 42 days on market in Oct 2024, up by 750% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Arbela Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Arbela Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
