$1,247 Closing Credit*
$105,000
1,011 SqFt
3 Beds
•1 Full Bath
#50163438, JANA VISH, Listing Office: MULTI STATE REALTY
Is Iron Mountain, 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, Iron Mountain was a Seller's Market.
Key Takeaway
Iron Mountain 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 Iron Mountain, MI
How much do homes in Iron Mountain, MI cost?
Median Sold Price
$157,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$52,250(+49.9%)
Key Takeaway
Homes in Iron Mountain have sold for 49.9% more than they did a year ago.
Summary: The median home sold price in Iron Mountain was $157,000 in November 2024, up 49.9% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $55K | N/A |
| 2 Bedrooms | $99K | $121.5K | +22.7% |
| 3 Bedrooms | $100K | $159.9K | +59.9% |
| 4 Bedrooms | $150K | $197.9K | +31.9% |
| 5+ Bedrooms | $112.2K | $274K | +144.1% |
Summary: Iron Mountain 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 increased by 22.7%, 3 bedroom homes increased by 59.9%, 4 bedroom homes increased by 31.9%, and 5+ bedroom homes increased by 144.1%.
Housing Supply in Iron Mountain, MI
How many homes are available in Iron Mountain, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 54 | -10.0% |
Summary: The Iron Mountain real estate market had 54 homes for sale in November 2024, a 10.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 15 | 11 | -26.7% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Iron Mountain housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 8 | -46.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iron Mountain, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Iron Mountain in November 2024, down by 46.7% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 6 Days | 38 Days | +538.1% |
Summary: Homes in Iron Mountain had an average of 38 days on market in Nov 2024, up by 538.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Iron Mountain are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Iron Mountain; 50% of homes were sold within 30 days, 25% 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.