Is Mc Bain, 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, Mc Bain has remained a Seller's Market.
Key Takeaway
Mc Bain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mc Bain, MI
How much do homes in Mc Bain, MI cost?
Median Sold Price
$267,500
$120/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Mc Bain have sold for 90.4% more than they did a month ago.
Summary: The median home sold price in Mc Bain was $267,500 in May 2024, up 90.4% from last month, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $52K | $270K | +419.2% |
| 3 Bedrooms | $229K | $70K | -69.4% |
| 4 Bedrooms | - | $230K | N/A |
| 5+ Bedrooms | - | $267.5K | N/A |
Summary: Mc Bain housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 419.2%, 3 bedroom homes decreased by 69.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| McBain | $140.5K | $270K | +92.2% |
| Mc Bain | $140.5K | $267.5K | +90.4% |
Housing Supply in Mc Bain, MI
How many homes are available in Mc Bain, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 13 | +30.0% |
Summary: The Mc Bain real estate market had 13 homes for sale in May 2024, a 30.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 7 | +75.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mc Bain housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mc Bain, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Mc Bain in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Mc Bain, MI
How long does it take to sell a home in Mc Bain, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 Days | 29 Days | -69.6% |
Summary: Homes in Mc Bain had an average of 29 days on market in May 2024, down by 69.6% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mc Bain are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Mc Bain; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
