$830 Closing Credit*
$69,900
1,790 SqFt
3 Beds
•2 Full Baths
#50161507, PEGGY GINGRASS, Listing Office: STEPHENS REAL ESTATE
Is Iron Mountain, 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, Iron Mountain has remained a Seller's Market.
Key Takeaway
Iron Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Iron Mountain, MI
How much do homes in Iron Mountain, MI cost?
Median Sold Price
$144,000
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$44,500(+44.7%)
Key Takeaway
Homes in Iron Mountain have sold for 44.7% more than they did a year ago.
Summary: The median home sold price in Iron Mountain was $144,000 in October 2024, up 44.7% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $55K | N/A |
| 2 Bedrooms | $92.5K | $128K | +38.4% |
| 3 Bedrooms | $100K | $151.9K | +51.9% |
| 4 Bedrooms | $150K | $202K | +34.7% |
| 5+ Bedrooms | $115K | $157K | +36.5% |
Summary: Iron Mountain 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 38.4%, 3 bedroom homes increased by 51.9%, 4 bedroom homes increased by 34.7%, and 5+ bedroom homes increased by 36.5%.
Housing Supply in Iron Mountain, MI
How many homes are available in Iron Mountain, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 59 | 64 | +8.5% |
Summary: The Iron Mountain real estate market had 64 homes for sale in October 2024, a 8.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Iron Mountain housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 18.2%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 15 | +15.4% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iron Mountain, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Iron Mountain in October 2024, up by 15.4% month-over-month. Of the 15 sold homes, 60% were sold under asking, 13% were sold at asking, and 27% were sold over asking.
Days on Market for Iron Mountain, MI
How long does it take to sell a home in Iron Mountain, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 89 Days | 37 Days | -58.3% |
Summary: Homes in Iron Mountain had an average of 37 days on market in Oct 2024, down by 58.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Iron Mountain are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Iron Mountain; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 13% 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.