$79,900
0.45 Acres
Land
Sigrid T Nutt, Listing Office: Berkshire Hathaway HomeServices Chicago
Is Buchanan Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Buchanan Township was a Neutral 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
$239,950
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$24,950(+11.6%)
Key Takeaway
Homes in Buchanan Township have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Buchanan Township was $239,950 in November 2024, up 11.6% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | - | N/A |
| 2 Bedrooms | $155K | $182.2K | +17.6% |
| 3 Bedrooms | $224.4K | $218.5K | -2.7% |
| 4 Bedrooms | $443.9K | $296.2K | -33.3% |
| 5+ Bedrooms | $209.5K | $250K | +19.3% |
Summary: Buchanan Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 17.6%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 19.3%.
Median Sold Price Compared To Nearby Cities
| Buchanan Township | $215K | $239.9K | +11.6% |
| Buchanan | $215K | $239.9K | +11.6% |
| Oronoko Charter Township | $270K | $289.5K | +7.2% |
| Niles Township | $179.9K | $185K | +2.8% |
| Bertrand Township | $335K | $274.9K | -17.9% |
Housing Supply in Buchanan Township, MI
How many homes are available in Buchanan Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 42 | -10.6% |
Summary: The Buchanan Township real estate market had 42 homes for sale in November 2024, a 10.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 15 | 14 | -6.7% |
| 3 Bedrooms | 20 | 18 | -10.0% |
| 4 Bedrooms | 8 | 6 | -25.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Buchanan Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 8 | -33.3% |
Asking Price vs. Sold Price
6 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 Buchanan Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Buchanan Township in November 2024, down by 33.3% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 27 Days | +73.4% |
Summary: Homes in Buchanan Township had an average of 27 days on market in Nov 2024, up by 73.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Buchanan Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Buchanan Township; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
