$1,069 Closing Credit*
$90,000
2,910 SqFt
4 Beds
•1 Full Bath, 1 Partial
#50160212, KERSTYN BURKE, Listing Office: STEPHENS REAL ESTATE-IRON RIVER
Is Iron County, 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, Iron County was a Neutral Market.
Key Takeaway
Iron County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Iron County, MI
How much do homes in Iron County, MI cost?
Median Sold Price
$112,500
$83/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$5,000(+4.7%)
Key Takeaway
Homes in Iron County have sold for 4.7% more than they did a month ago.
Summary: The median home sold price in Iron County was $112,500 in October 2024, up 4.7% from last month, and the median price per square foot was $83.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $215K | N/A |
| 2 Bedrooms | $59.9K | $67K | +11.9% |
| 3 Bedrooms | $117.5K | $142.5K | +21.3% |
| 4 Bedrooms | $67.5K | $295.1K | +337.2% |
| 5+ Bedrooms | $490K | $311K | -36.5% |
Summary: Iron County housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 21.3%, 4 bedroom homes increased by 337.2%, and 5+ bedroom homes decreased by 36.5%.
Median Sold Price Compared To Nearby Counties
| Dickinson County | $139.7K | $147.9K | +5.9% |
| Iron County | $107.5K | $112.5K | +4.7% |
| Baraga County | $165K | $98.5K | -40.3% |
| Florence County | $320K | $89.9K | -71.9% |
Housing Supply in Iron County, MI
How many homes are available in Iron County, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 81 | 84 | +3.7% |
Summary: The Iron County real estate market had 84 homes for sale in October 2024, a 3.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 19 | 21 | +10.5% |
| 3 Bedrooms | 35 | 37 | +5.7% |
| 4 Bedrooms | 11 | 11 | 0.0% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Iron County 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 increased by 10.5%, 3 bedroom homes increased by 5.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 20 | +66.7% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iron County, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Iron County in October 2024, up by 66.7% month-over-month. Of the 20 sold homes, 80% were sold under asking, 5% were sold at asking, and 15% were sold over asking.
Days on Market for Iron County, MI
How long does it take to sell a home in Iron County, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 34 Days | -47.2% |
Summary: Homes in Iron County had an average of 34 days on market in Oct 2024, down by 47.2% compared to last month.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Iron County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in Iron County; 55% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 10% 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.