$2,374 Closing Credit*
$199,900
1,331 SqFt
3 Beds
•1 Full Bath, 2 Partial
#50162813, JULIE WAARA, Listing Office: NORTHERN MICHIGAN LAND BROKERS - H
Is Hancock, 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, Hancock was a Buyer's Market.
Key Takeaway
Hancock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hancock, MI
How much do homes in Hancock, MI cost?
Median Sold Price
$192,000
$105/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$220,500(-53.5%)
Key Takeaway
Homes in Hancock have sold for 53.5% less than they did a month ago.
Summary: The median home sold price in Hancock was $192,000 in November 2024, down 53.5% from last month, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $142K | $70K | -50.7% |
| 3 Bedrooms | - | $192K | N/A |
| 4 Bedrooms | $478K | $125K | -73.8% |
| 5+ Bedrooms | $412.5K | $377K | -8.6% |
Summary: Hancock housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 50.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 73.8%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $697.5K | $805K | +15.4% |
| Houghton | $239.5K | $264K | +10.2% |
| Hancock | $412.5K | $192K | -53.5% |
| Hancock Township | $412.5K | $192K | -53.5% |
Housing Supply in Hancock, MI
How many homes are available in Hancock, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 19 | -13.6% |
Summary: The Hancock real estate market had 19 homes for sale in November 2024, a 13.6% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Hancock 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 decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hancock, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Hancock in November 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Hancock, MI
How long does it take to sell a home in Hancock, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 37 Days | +13.0% |
Summary: Homes in Hancock had an average of 37 days on market in Nov 2024, up by 13% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hancock are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Hancock; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% 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.