$1,543 Closing Credit*
$129,900
828 SqFt
2 Beds
•1 Full Bath
Michael Reijonen, Listing Office: Michigan Lifestyle Properties / Gull Lake Realty
Is Edison, 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, Edison has remained a Seller's Market.
Key Takeaway
Edison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Edison, MI
How much do homes in Edison, MI cost?
Median Sold Price
$123,500
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$8,250(+7.2%)
Key Takeaway
Homes in Edison have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Edison was $123,500 in October 2024, up 7.2% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $115.2K | $120K | +4.2% |
| 3 Bedrooms | $110K | $127.5K | +15.9% |
| 4 Bedrooms | $120K | $120K | 0.0% |
| 5+ Bedrooms | $117.5K | $145K | +23.4% |
Summary: Edison 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 4.2%, 3 bedroom homes increased by 15.9%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 23.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Edison | $115.2K | $123.5K | +7.2% |
| Milwood | $197.5K | $209.5K | +6.1% |
| Eastside | $124.4K | $124.7K | 0.2% |
Housing Supply in Edison, MI
How many homes are available in Edison, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 37 | +12.1% |
Summary: The Edison real estate market had 37 homes for sale in October 2024, a 12.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 13 | 17 | +30.8% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Edison 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 increased by 12.5%, 3 bedroom homes increased by 30.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 13 | +160.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Edison, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Edison in October 2024, up by 160.0% month-over-month. Of the 13 sold homes, 46% were sold under asking, 38% were sold at asking, and 15% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 23 Days | +89.0% |
Summary: Homes in Edison had an average of 23 days on market in Oct 2024, up by 89% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 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 October 2024, 13 homes were sold in Edison; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
