Is Mancelona Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mancelona Township has remained a Seller's Market.
Housing Prices in Mancelona Township, MI
How much do homes in Mancelona Township, MI cost?
Median Sold Price
$204,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mancelona Township was $204,500 in May 2024, up 17.9% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $63.7K | -42.0% |
2 Bedrooms | $165K | $145.9K | -11.5% |
3 Bedrooms | $182.5K | $220.3K | +20.8% |
4 Bedrooms | $167K | $240K | +43.7% |
5+ Bedrooms | $487.5K | $480K | -1.5% |
Summary: Mancelona Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42%, 2 bedroom homes decreased by 11.5%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 43.7%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
Mancelona Township | $173.5K | $204.5K | +17.9% |
Mancelona | $173.5K | $200.7K | +15.7% |
Star Township | $240K | $249.9K | +4.1% |
Hayes Township | $242.5K | $250K | +3.1% |
Housing Supply in Mancelona Township, MI
How many homes are available in Mancelona Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 26 | +18.2% |
Summary: The Mancelona Township real estate market had 26 homes for sale in May 2024, a 18.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 10 | 12 | +20.0% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Mancelona Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 9 | +125.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Mancelona Township in May 2024, up by 125.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Mancelona Township, MI
How long does it take to sell a home in Mancelona Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
68 Days | 83 Days | +22.4% |
Summary: Homes in Mancelona Township had an average of 83 days on market in May 2024, up by 22.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Mancelona Township; 22% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.