$2,791 Closing Credit*
$235,000
872 SqFt
3 Beds
•1 Full Bath
#50163126, STEPHEN ANDREAE, Listing Office: RE/MAX 1ST REALTY
Is Ishpeming, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Ishpeming has remained a Seller's Market.
Key Takeaway
Ishpeming is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ishpeming, MI
How much do homes in Ishpeming, MI cost?
Median Sold Price
$157,500
$134/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$2,500(-1.6%)
Key Takeaway
Homes in Ishpeming have sold for 1.6% less than they did a month ago.
Summary: The median home sold price in Ishpeming was $157,500 in November 2024, down 1.6% from last month, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | - | N/A |
| 2 Bedrooms | $142.5K | $154K | +8.1% |
| 3 Bedrooms | $173K | $166.2K | -3.9% |
| 4 Bedrooms | $199K | $171.6K | -13.7% |
| 5+ Bedrooms | - | $157.5K | N/A |
Summary: Ishpeming 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 8.1%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 13.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ishpeming | $160K | $157.5K | -1.6% |
| Ishpeming Township | $160K | $157.5K | -1.6% |
| Negaunee | $216K | $210K | -2.8% |
Housing Supply in Ishpeming, MI
How many homes are available in Ishpeming, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 47 | +4.4% |
Summary: The Ishpeming real estate market had 47 homes for sale in November 2024, a 4.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 10 | 9 | -10.0% |
| 3 Bedrooms | 22 | 28 | +27.3% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Ishpeming housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 10%, 3 bedroom homes increased by 27.3%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 14 | +27.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ishpeming, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Ishpeming in November 2024, up by 27.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Ishpeming, MI
How long does it take to sell a home in Ishpeming, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 37 Days | +63.4% |
Summary: Homes in Ishpeming had an average of 37 days on market in Nov 2024, up by 63.4% compared to last month.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ishpeming are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 14 homes were sold in Ishpeming; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% 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.