Is Mancelona, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mancelona is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Mancelona has remained a Seller's Market.

Key Takeaway

Mancelona is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Mancelona, MI

How much do homes in Mancelona, MI cost?

Median Sold Price

$201,250

$158/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$11,250(+5.9%)

Key Takeaway

Homes in Mancelona have sold for 5.9% more than they did a year ago.

Summary: The median home sold price in Mancelona was $201,250 in November 2024, up 5.9% from last year, and the median price per square foot was $158.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $107.5K$127K
+18.1%
2 $131K$145.4K
+11.0%
3 $208K$250K
+20.2%
4 $205K$320K
+56.1%
5+ $224.9K$515K
+128.9%

Summary: Mancelona housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 56.1%, and 5+ bedroom homes increased by 128.9%.

Median Sold Price Compared To Nearby Cities

Mancelona Township
+7.3%
Mancelona
+5.9%

Housing Supply in Mancelona, MI

How many homes are available in Mancelona, MI?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
46460.0%

Summary: The Mancelona real estate market had 46 homes for sale in November 2024, the same as October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 1111
0.0%
3 2625
-3.8%
4 34
+33.3%
5+ 22
0.0%

Summary: The Mancelona 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 remained the same, 3 bedroom homes decreased by 3.8%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
78+14.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mancelona, 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 Mancelona in November 2024, up by 14.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 13% were sold at asking, and 63% were sold over asking.

Days on Market for Mancelona, MI

How long does it take to sell a home in Mancelona, MI?

Average Sale Time

Nov 2023Nov 2024CHANGE
108 Days93 Days-14.1%

Summary: Homes in Mancelona had an average of 93 days on market in Nov 2024, down by 14.1% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Mancelona has remained consistent over time.

Summary: During November 2024, 8 homes were sold in Mancelona; 0% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 17 Days Ago

Newest Listings in Mancelona, MI

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