$2,613 Closing Credit*
$220,000
1,250 SqFt
3 Beds
•2 Full Baths
Denise DeVries, Listing Office: Gateway Brokerage, LLC
Is Bitely, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Bitely was a Seller's Market.
Key Takeaway
Bitely is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Bitely, MI
How much do homes in Bitely, MI cost?
Median Sold Price
$148,450
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,550(+11.7%)
Key Takeaway
Homes in Bitely have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Bitely was $148,450 in October 2024, up 11.7% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92.4K | $125K | +35.2% |
| 2 Bedrooms | $120K | $110K | -8.3% |
| 3 Bedrooms | $156K | $185K | +18.6% |
| 4 Bedrooms | $323K | $275K | -14.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: Bitely housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.2%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 18.6%, 4 bedroom homes decreased by 14.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bitely | $132.9K | $148.4K | +11.7% |
| Merrill Township | $145K | $157.4K | +8.6% |
| Troy Township | $409.8K | $441.8K | +7.8% |
| Lilley Township | $147.5K | $144.9K | -1.8% |
Housing Supply in Bitely, MI
How many homes are available in Bitely, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 20 | -16.7% |
Summary: The Bitely real estate market had 20 homes for sale in October 2024, a 16.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Bitely housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Bitely, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Bitely in October 2024, down by 40.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Bitely, MI
How long does it take to sell a home in Bitely, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 29 Days | -31.8% |
Summary: Homes in Bitely had an average of 29 days on market in Oct 2024, down by 31.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bitely are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Bitely; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
