$345,000
82.54 Acres
Land
John Solomon, Listing Office: Key Realty One-TC
Is Benzie County, 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, Benzie County has remained a Seller's Market.
Key Takeaway
Benzie County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Benzie County, MI
How much do homes in Benzie County, MI cost?
Median Sold Price
$354,225
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$1,625(-0.5%)
Key Takeaway
The sold price of homes in Benzie County has remained the same since last year.
Summary: The median home sold price in Benzie County was $354,225 in October 2024, down 0.5% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $218K | $265K | +21.6% |
| 2 Bedrooms | $297.5K | $332.5K | +11.8% |
| 3 Bedrooms | $328.9K | $357K | +8.5% |
| 4 Bedrooms | $465K | $410K | -11.8% |
| 5+ Bedrooms | $775K | $1.2M | +65.7% |
Summary: Benzie County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.6%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 65.7%.
Median Sold Price Compared To Nearby Counties
| Grand Traverse County | $409K | $424.9K | +3.9% |
| Benzie County | $355.8K | $354.2K | -0.5% |
Housing Supply in Benzie County, MI
How many homes are available in Benzie County, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 120 | 109 | -9.2% |
Summary: The Benzie County real estate market had 109 homes for sale in October 2024, a 9.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 26 | 19 | -26.9% |
| 3 Bedrooms | 52 | 52 | 0.0% |
| 4 Bedrooms | 28 | 25 | -10.7% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Benzie County 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 decreased by 26.9%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 20 | -33.3% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benzie County, you may be able to get a good deal. 89.5% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Benzie County in October 2024, down by 33.3% month-over-month. Of the 19 sold homes, 89% were sold under asking, 0% were sold at asking, and 11% were sold over asking.
Days on Market for Benzie County, MI
How long does it take to sell a home in Benzie County, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 75 Days | 82 Days | +8.5% |
Summary: Homes in Benzie County had an average of 82 days on market in Oct 2024, up by 8.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Benzie County has remained consistent over time.
Summary: During October 2024, 20 homes were sold in Benzie County; 10% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.