$534 Closing Credit*
$45,000
550 SqFt
2 Beds
•1 Full Bath
Sally Belman, Listing Office: Big River Properties
Is Elk Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Elk Township has remained a Seller's Market.
Key Takeaway
Elk Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elk Township, MI
How much do homes in Elk Township, MI cost?
Median Sold Price
$229,900
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$19,900(+9.5%)
Key Takeaway
Homes in Elk Township have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Elk Township was $229,900 in November 2024, up 9.5% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $269.9K | $95.9K | -64.4% |
| 2 Bedrooms | $160K | $229.9K | +43.7% |
| 3 Bedrooms | $312K | $318.7K | +2.2% |
| 4 Bedrooms | $295K | - | N/A |
| 5+ Bedrooms | $640K | $480K | -25.0% |
Summary: Elk Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.4%, 2 bedroom homes increased by 43.7%, 3 bedroom homes increased by 2.2%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 25%.
Median Sold Price Compared To Nearby Cities
| Irons | $151K | $199K | +31.8% |
| Elk Township | $210K | $229.9K | +9.5% |
| Sauble Township | $225K | $195K | -13.3% |
| Norman Township | $175K | $136.4K | -22.0% |
Housing Supply in Elk Township, MI
How many homes are available in Elk Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 23 | 24 | +4.3% |
Summary: The Elk Township real estate market had 24 homes for sale in November 2024, a 4.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elk 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 0 | 5 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Elk Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Elk Township in November 2024, up by 100.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Elk Township, MI
How long does it take to sell a home in Elk Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 74 Days | +98.9% |
Summary: Homes in Elk Township had an average of 74 days on market in Nov 2024, up by 98.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Elk Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Elk Township; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
