$8,301 Closing Credit*
$699,000
1,709 SqFt
4 Beds
•2 Full Baths, 1 Partial
Niki Novak, Listing Office: The Mitten Real Estate Group
Is Empire, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Empire has remained a Seller's Market.
Key Takeaway
Empire is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Empire, MI
How much do homes in Empire, MI cost?
Median Sold Price
$686,950
$397/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$58,050(-7.8%)
Key Takeaway
Homes in Empire have sold for 7.8% less than they did a month ago.
Summary: The median home sold price in Empire was $686,950 in October 2024, down 7.8% from last month, and the median price per square foot was $397.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $532.4K | N/A |
| 3 Bedrooms | $540K | $921.5K | +70.6% |
| 4 Bedrooms | $950K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Empire housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 70.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Empire | $745K | $686.9K | -7.8% |
| Empire Township | $745K | $686.9K | -7.8% |
Housing Supply in Empire, MI
How many homes are available in Empire, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Summary: The Empire real estate market had 9 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Empire 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 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Empire, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Empire in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Empire, MI
How long does it take to sell a home in Empire, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 Days | 42 Days | -29.9% |
Summary: Homes in Empire had an average of 42 days on market in Oct 2024, down by 29.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Empire has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Empire; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
