$1,186 Closing Credit*
$99,900
1,620 SqFt
3 Beds
•2 Full Baths
Joseph Kendrick, Listing Office: USRealty.com LLP
Is Edison, 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, Edison was a Seller's Market.
Key Takeaway
Edison 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 Edison, MI
How much do homes in Edison, MI cost?
Median Sold Price
$123,000
$86/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,308(+6.3%)
Key Takeaway
Homes in Edison have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in Edison was $123,000 in November 2024, up 6.3% from last year, and the median price per square foot was $86.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115.5K | $117K | +1.3% |
| 3 Bedrooms | $115.8K | $123K | +6.1% |
| 4 Bedrooms | $108K | $123K | +13.9% |
| 5+ Bedrooms | $117.5K | $145K | +23.4% |
Summary: Edison 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 1.3%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 23.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Milwood | $200K | $212.9K | +6.5% |
| Edison | $115.6K | $123K | +6.3% |
| Eastside | $130K | $111.2K | -14.4% |
Housing Supply in Edison, MI
How many homes are available in Edison, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 36 | 31 | -13.9% |
Summary: The Edison real estate market had 31 homes for sale in November 2024, a 13.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 7 | -30.0% |
| 3 Bedrooms | 17 | 18 | +5.9% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Edison 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 30%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 5 | -66.7% |
Asking Price vs. Sold Price
2 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 Edison, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Edison in November 2024, down by 66.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for Edison, MI
How long does it take to sell a home in Edison, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 29 Days | +116.7% |
Summary: Homes in Edison had an average of 29 days on market in Nov 2024, up by 116.7% compared to last year.
Breakdown of Home Sale Times
3 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 Edison are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Edison; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
