Is Houghton County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Houghton County is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Houghton County has remained a Seller's Market.

Key Takeaway

Houghton County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Houghton County, MI

How much do homes in Houghton County, MI cost?

Median Sold Price

$170,000

$104/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$52,500(-23.6%)

Key Takeaway

Homes in Houghton County have sold for 23.6% less than they did a month ago.

Summary: The median home sold price in Houghton County was $170,000 in November 2024, down 23.6% from last month, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 $193.5K-
N/A
2 $159K$106.7K
-32.9%
3 $151K$208.5K
+38.1%
4 $244K$139.7K
-42.7%
5+ $250.2K$377K
+50.7%

Summary: Houghton County 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 32.9%, 3 bedroom homes increased by 38.1%, 4 bedroom homes decreased by 42.7%, and 5+ bedroom homes increased by 50.7%.

Median Sold Price Compared To Nearby Counties

Keweenaw County
+1055.6%
Ontonagon County
+96.0%
Baraga County
+22.8%
Iron County
-2.2%
Houghton County
-23.6%

Housing Supply in Houghton County, MI

How many homes are available in Houghton County, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
121107-11.6%

Summary: The Houghton County real estate market had 107 homes for sale in November 2024, a 11.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 64
-33.3%
2 1818
0.0%
3 5146
-9.8%
4 3027
-10.0%
5+ 1612
-25.0%

Summary: The Houghton County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 9.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
26260.0%

Asking Price vs. Sold Price

15 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Houghton County, you may be able to get a good deal. 57.7% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in Houghton County in November 2024, the same as the previous month. Of the 26 sold homes, 58% were sold under asking, 38% were sold at asking, and 4% were sold over asking.

Days on Market for Houghton County, MI

How long does it take to sell a home in Houghton County, MI?

Average Sale Time

Oct 2024Nov 2024CHANGE
51 Days67 Days+30.4%

Summary: Homes in Houghton County had an average of 67 days on market in Nov 2024, up by 30.4% compared to last month.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Houghton County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 26 homes were sold in Houghton County; 54% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Houghton County, MI

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