$1,223 Closing Credit*
$103,000
1,124 SqFt
2 Beds
•1 Full Bath
#50161235, CHUCK GASKILL, Listing Office: REISS REAL ESTATE INC.
Is Farwell, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Farwell was a Buyer's Market.
Key Takeaway
Farwell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farwell, MI
How much do homes in Farwell, MI cost?
Median Sold Price
$243,500
$127/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$63,050(+34.9%)
Key Takeaway
Homes in Farwell have sold for 34.9% more than they did a month ago.
Summary: The median home sold price in Farwell was $243,500 in October 2024, up 34.9% from last month, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $31K | $160K | +416.1% |
| 3 Bedrooms | $329.9K | $231K | -30.0% |
| 4 Bedrooms | - | $329.5K | N/A |
| 5+ Bedrooms | - | $252.5K | N/A |
Summary: Farwell 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 increased by 416.1%, 3 bedroom homes decreased by 30%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Farwell | $180.4K | $243.5K | +34.9% |
| Surrey Township | $167.9K | $207.5K | +23.6% |
Housing Supply in Farwell, MI
How many homes are available in Farwell, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 48 | +14.3% |
Summary: The Farwell real estate market had 48 homes for sale in October 2024, a 14.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 25 | 30 | +20.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Farwell 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 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 10 | +400.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farwell, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Farwell in October 2024, up by 400.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 30% were sold at asking, and 0% were sold over asking.
Days on Market for Farwell, MI
How long does it take to sell a home in Farwell, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 92 Days | +192.4% |
Summary: Homes in Farwell had an average of 92 days on market in Oct 2024, up by 192.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Farwell has remained consistent over time.
Summary: During October 2024, 10 homes were sold in Farwell; 10% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 40% 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. 
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