Is Hemlock, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Hemlock has remained a Seller's Market.
Key Takeaway
Hemlock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hemlock, MI
How much do homes in Hemlock, MI cost?
Median Sold Price
$176,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hemlock have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Hemlock was $176,000 in May 2024, up 3.5% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $121K | $143.5K | +18.6% |
| 3 Bedrooms | $177K | $180K | +1.7% |
| 4 Bedrooms | $162K | $257.4K | +58.9% |
| 5+ Bedrooms | $567.5K | - | N/A |
Summary: Hemlock housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.6%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 58.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Fremont Township | $193K | $224.7K | +16.5% |
| Thomas Township | $193.5K | $204.5K | +5.7% |
| Hemlock | $170K | $176K | +3.5% |
| Jonesfield Township | $152K | $150K | -1.3% |
| Richland Township | $315K | $306.2K | -2.8% |
Housing Supply in Hemlock, MI
How many homes are available in Hemlock, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Summary: The Hemlock real estate market had 12 homes for sale in May 2024, a 25.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 9 | 5 | -44.4% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Hemlock housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 44.4%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hemlock, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Hemlock in May 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Hemlock, MI
How long does it take to sell a home in Hemlock, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 82 Days | 39 Days | -52.1% |
Summary: Homes in Hemlock had an average of 39 days on market in May 2024, down by 52.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hemlock are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Hemlock; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
