$2,434 Closing Credit*
$205,000
796 SqFt
2 Beds
•1 Full Bath
Doug Taylor, Listing Office: Coldwell Banker Schmidt-Benzie
Is Honor, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Honor has remained a Seller's Market.
Key Takeaway
Honor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Honor, MI
How much do homes in Honor, MI cost?
Median Sold Price
$379,900
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$84,900(+28.8%)
Key Takeaway
Homes in Honor have sold for 28.8% more than they did a year ago.
Summary: The median home sold price in Honor was $379,900 in October 2024, up 28.8% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $265K | N/A |
| 2 Bedrooms | $270K | $343.5K | +27.2% |
| 3 Bedrooms | $387.5K | $379.9K | -2.0% |
| 4 Bedrooms | $630.6K | $407K | -35.5% |
| 5+ Bedrooms | - | $1.8M | N/A |
Summary: Honor housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 27.2%, 3 bedroom homes decreased by 2%, 4 bedroom homes decreased by 35.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Honor | $295K | $379.9K | +28.8% |
| Homestead Township | $293.5K | $284.5K | -3.1% |
Housing Supply in Honor, MI
How many homes are available in Honor, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 10 | -37.5% |
Summary: The Honor real estate market had 10 homes for sale in October 2024, a 37.5% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 2 | -60.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Honor 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 decreased by 60%, 3 bedroom homes decreased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Honor, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Honor in October 2024, down by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Honor, MI
How long does it take to sell a home in Honor, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 63 Days | 66 Days | +5.8% |
Summary: Homes in Honor had an average of 66 days on market in Oct 2024, up by 5.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Honor are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Honor; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
