$1,841 Closing Credit*
$155,000
1,616 SqFt
4 Beds
•1 Full Bath
Caren Furdeck, Listing Office: Ellsbury Commercial Group
Is Buchanan 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, Buchanan Township has remained a Seller's Market.
Key Takeaway
Buchanan Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Buchanan Township, MI
How much do homes in Buchanan Township, MI cost?
Median Sold Price
$243,003
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$28,003(+13.0%)
Key Takeaway
Homes in Buchanan Township have sold for 13% more than they did a year ago.
Summary: The median home sold price in Buchanan Township was $243,003 in October 2024, up 13% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $79K | - | N/A |
| 2 Bedrooms | $152.5K | $184.7K | +21.1% |
| 3 Bedrooms | $224.9K | $226K | 0.5% |
| 4 Bedrooms | $459.9K | $296.2K | -35.6% |
| 5+ Bedrooms | $180K | $250K | +38.9% |
Summary: Buchanan 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 increased by 21.1%, 3 bedroom homes increased by 0.5%, 4 bedroom homes decreased by 35.6%, and 5+ bedroom homes increased by 38.9%.
Median Sold Price Compared To Nearby Cities
| Buchanan Township | $215K | $243K | +13.0% |
| Buchanan | $215K | $241.5K | +12.3% |
| Oronoko Charter Township | $260.4K | $287.5K | +10.4% |
| Niles Township | $180.6K | $180K | -0.3% |
| Bertrand Township | $335K | $284.9K | -15.0% |
Housing Supply in Buchanan Township, MI
How many homes are available in Buchanan Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 46 | +15.0% |
Summary: The Buchanan Township real estate market had 46 homes for sale in October 2024, a 15.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 14 | +40.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Buchanan Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Buchanan Township, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Buchanan Township in October 2024, the same as the previous month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Buchanan Township, MI
How long does it take to sell a home in Buchanan Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 85 Days | 58 Days | -31.0% |
Summary: Homes in Buchanan Township had an average of 58 days on market in Oct 2024, down by 31% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Buchanan Township has remained consistent over time.
Summary: During October 2024, 10 homes were sold in Buchanan Township; 20% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
