$3,348 Closing Credit*
$281,900
1,281 SqFt
3 Beds
•2 Full Baths
Scott Harris, Listing Office: Howard Hanna - Monroe
Is Erie, 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, Erie has remained a Seller's Market.
Key Takeaway
Erie is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Erie, MI
How much do homes in Erie, MI cost?
Median Sold Price
$187,450
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,450(+1.3%)
Key Takeaway
Homes in Erie have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Erie was $187,450 in November 2024, up 1.3% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $163K | -11.9% |
| 2 Bedrooms | $149.9K | $132.5K | -11.6% |
| 3 Bedrooms | $179.9K | $207.4K | +15.3% |
| 4 Bedrooms | $254.5K | $250K | -1.8% |
| 5+ Bedrooms | - | $136.5K | N/A |
Summary: Erie housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.9%, 2 bedroom homes decreased by 11.6%, 3 bedroom homes increased by 15.3%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Luna Pier | $162.5K | $175K | +7.7% |
| Temperance | $255K | $263K | +3.1% |
| Erie | $185K | $187.4K | +1.3% |
| Erie Township | $185K | $185K | 0.0% |
Housing Supply in Erie, MI
How many homes are available in Erie, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Summary: The Erie real estate market had 10 homes for sale in November 2024, a 16.7% 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 | 3 | 4 | +33.3% |
| 3 Bedrooms | 9 | 5 | -44.4% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Erie 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 increased by 33.3%, 3 bedroom homes decreased by 44.4%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Erie, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Erie in November 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Erie, MI
How long does it take to sell a home in Erie, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 5 Days | 6 Days | +21.9% |
Summary: Homes in Erie had an average of 6 days on market in Nov 2024, up by 21.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Erie are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 2 homes were sold in Erie; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
