$4,155 Closing Credit*
$349,900
1,800 SqFt
3 Beds
•2 Full Baths
Gjoni Sinishta, Listing Office: KW Domain
Is Melvin, 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, Melvin has remained a Seller's Market.
Key Takeaway
Melvin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Melvin, MI
How much do homes in Melvin, MI cost?
Median Sold Price
$165,000
$117/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$70,500(+74.6%)
Key Takeaway
Homes in Melvin have sold for 74.6% more than they did a month ago.
Summary: The median home sold price in Melvin was $165,000 in October 2024, up 74.6% from last month, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $94.5K | - | N/A |
| 3 Bedrooms | - | $165K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Melvin housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Melvin | $94.5K | $165K | +74.6% |
| Speaker Township | $94.5K | $165K | +74.6% |
Housing Supply in Melvin, MI
How many homes are available in Melvin, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Summary: The Melvin real estate market had 5 homes for sale in October 2024, a 25.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Melvin 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 decreased by 100%, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Melvin, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Melvin in October 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Melvin, MI
How long does it take to sell a home in Melvin, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 6 Days | -87.0% |
Summary: Homes in Melvin had an average of 6 days on market in Oct 2024, down by 87% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Melvin are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in Melvin; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.