$75,000
7.25 Acres
Land
Amy Payment, Listing Office: Exclusive House of Real Estate
Is Imlay City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Imlay City was a Seller's Market.
Key Takeaway
Imlay City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Imlay City, MI
How much do homes in Imlay City, MI cost?
Median Sold Price
$265,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,000(+1.9%)
Key Takeaway
Homes in Imlay City have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Imlay City was $265,000 in November 2024, up 1.9% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $75K | N/A |
| 2 Bedrooms | $241K | $175K | -27.4% |
| 3 Bedrooms | $257.5K | $299.9K | +16.5% |
| 4 Bedrooms | $320K | $265K | -17.2% |
| 5+ Bedrooms | $249.5K | $395K | +58.3% |
Summary: Imlay City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 27.4%, 3 bedroom homes increased by 16.5%, 4 bedroom homes decreased by 17.2%, and 5+ bedroom homes increased by 58.3%.
Housing Supply in Imlay City, MI
How many homes are available in Imlay City, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 | 42 | +10.5% |
Summary: The Imlay City real estate market had 42 homes for sale in November 2024, a 10.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 21 | 27 | +28.6% |
| 4 Bedrooms | 12 | 9 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Imlay City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Imlay City, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Imlay City in November 2024, up by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Imlay City, MI
How long does it take to sell a home in Imlay City, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 14 Days | -49.2% |
Summary: Homes in Imlay City had an average of 14 days on market in Nov 2024, down by 49.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Imlay City are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Imlay City; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% 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.