$8,063 Closing Credit*
$679,000
1,444 SqFt
4 Beds
•2 Full Baths
#50162587, NICOLE HEBERT, Listing Office: KELLER WILLIAMS CLASSIC REALTY NM
Is Iron River, 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 River was a Seller's Market.
Key Takeaway
Iron River 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 River, MI
How much do homes in Iron River, MI cost?
Median Sold Price
$87,500
$70/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$2,700(+3.2%)
Key Takeaway
Homes in Iron River have sold for 3.2% more than they did a month ago.
Summary: The median home sold price in Iron River was $87,500 in November 2024, up 3.2% from last month, and the median price per square foot was $70.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $48K | - | N/A |
| 2 Bedrooms | $67K | $131.2K | +95.9% |
| 3 Bedrooms | $136.2K | $65K | -52.3% |
| 4 Bedrooms | $568.2K | - | N/A |
| 5+ Bedrooms | - | $180K | N/A |
Summary: Iron River 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 increased by 95.9%, 3 bedroom homes decreased by 52.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Caspian | $50.9K | $67.5K | +32.5% |
| Iron River | $84.8K | $87.5K | +3.2% |
Housing Supply in Iron River, MI
How many homes are available in Iron River, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 38 | -15.6% |
Summary: The Iron River real estate market had 38 homes for sale in November 2024, a 15.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 10 | 8 | -20.0% |
| 3 Bedrooms | 20 | 15 | -25.0% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Iron River housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iron River, 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 Iron River in November 2024, down by 53.8% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Iron River, MI
How long does it take to sell a home in Iron River, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 36 Days | +10.6% |
Summary: Homes in Iron River had an average of 36 days on market in Nov 2024, up by 10.6% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Iron River are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Iron River; 50% of homes were sold within 30 days, 50% 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.