$4,274 Closing Credit*
$359,900
2,785 SqFt
4 Beds
•2 Full Baths
Alicia Edison, Listing Office: Coldwell Banker Groves Real Estate
Is Jerome, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Jerome was a Seller's Market.
Key Takeaway
Jerome 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 Jerome, MI
How much do homes in Jerome, MI cost?
Median Sold Price
$282,500
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$62,500(+28.4%)
Key Takeaway
Homes in Jerome have sold for 28.4% more than they did a year ago.
Summary: The median home sold price in Jerome was $282,500 in September 2024, up 28.4% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $201.5K | $185K | -8.2% |
| 3 Bedrooms | $179.9K | $228K | +26.7% |
| 4 Bedrooms | $367.5K | $450K | +22.4% |
| 5+ Bedrooms | $150K | $635K | +323.3% |
Summary: Jerome housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes increased by 323.3%.
Median Sold Price Compared To Nearby Cities
| Jerome | $220K | $282.5K | +28.4% |
| Cement City | $259.6K | $299.5K | +15.4% |
| Somerset Township | $259.6K | $299K | +15.2% |
Housing Supply in Jerome, MI
How many homes are available in Jerome, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 26 | 28 | +7.7% |
Summary: The Jerome real estate market had 28 homes for sale in September 2024, a 7.7% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 16 | 20 | +25.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The Jerome housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jerome, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Jerome in September 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Jerome, MI
How long does it take to sell a home in Jerome, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 65 Days | 18 Days | -72.2% |
Summary: Homes in Jerome had an average of 18 days on market in Sep 2024, down by 72.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jerome are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 4 homes were sold in Jerome; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.