$45,900
4.00 Acres
Land
Bradley LaBrie, Listing Office: Keller Williams First
Is Elba Township, 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, Elba Township was a Seller's Market.
Key Takeaway
Elba Township 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 Elba Township, MI
How much do homes in Elba Township, MI cost?
Median Sold Price
$355,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$117,500(+49.5%)
Key Takeaway
Homes in Elba Township have sold for 49.5% more than they did a year ago.
Summary: The median home sold price in Elba Township was $355,000 in October 2024, up 49.5% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $189.2K | $105K | -44.5% |
| 2 Bedrooms | $172.5K | $146.9K | -14.8% |
| 3 Bedrooms | $250K | $290.5K | +16.2% |
| 4 Bedrooms | $260K | $425K | +63.5% |
| 5+ Bedrooms | $535K | $675K | +26.2% |
Summary: Elba Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44.5%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 63.5%, and 5+ bedroom homes increased by 26.2%.
Median Sold Price Compared To Nearby Cities
| Elba Township | $237.5K | $355K | +49.5% |
| Oregon Township | $242.5K | $280K | +15.5% |
| Lapeer | $240K | $265K | +10.4% |
| Lapeer Township | $240K | $265K | +10.4% |
| Hadley Township | $348K | $367K | +5.5% |
Housing Supply in Elba Township, MI
How many homes are available in Elba Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Summary: The Elba Township real estate market had 18 homes for sale in October 2024, a 10.0% decrease 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 14 | 12 | -14.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Elba Township 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 remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
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 Elba Township, 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 Elba Township 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 Elba Township, MI
How long does it take to sell a home in Elba Township, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 27 Days | +20.3% |
Summary: Homes in Elba Township had an average of 27 days on market in Oct 2024, up by 20.3% 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 Elba Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Elba Township; 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.