$1,899 Closing Credit*
$159,900
1,227 SqFt
3 Beds
•1 Full Bath
#50161311, BENJAMIN ARGALL, Listing Office: NEXTHOME SUPERIOR LIVING
Is Ishpeming, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Ishpeming was a Neutral 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
$175,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$42,500(+32.1%)
Key Takeaway
Homes in Ishpeming have sold for 32.1% more than they did a year ago.
Summary: The median home sold price in Ishpeming was $175,000 in October 2024, up 32.1% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $167.5K | N/A |
| 2 Bedrooms | $57K | $147.1K | +158.1% |
| 3 Bedrooms | $217.2K | $194.9K | -10.3% |
| 4 Bedrooms | $132.5K | $134.9K | +1.8% |
| 5+ Bedrooms | $260K | $186K | -28.5% |
Summary: Ishpeming 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 158.1%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes decreased by 28.5%.
Median Sold Price Compared To Nearby Cities
| Ishpeming | $132.5K | $175K | +32.1% |
| Ishpeming Township | $149K | $175K | +17.4% |
Housing Supply in Ishpeming, MI
How many homes are available in Ishpeming, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 44 | +7.3% |
Summary: The Ishpeming real estate market had 44 homes for sale in October 2024, a 7.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 23 | 22 | -4.3% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Ishpeming 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 42.9%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ishpeming, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Ishpeming in October 2024, up by 25.0% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% 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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 24 Days | -20.6% |
Summary: Homes in Ishpeming had an average of 24 days on market in Oct 2024, down by 20.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ishpeming are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Ishpeming; 90% of homes were sold within 30 days, 0% 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.