Is Michigan Center, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Michigan Center was a Buyer's Market.
Housing Prices in Michigan Center, MI
How much do homes in Michigan Center, MI cost?
Median Sold Price
$197,500
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Michigan Center was $197,500 in May 2024, up 12.5% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $161.2K | - | N/A |
2 Bedrooms | $160.9K | $158.7K | -1.4% |
3 Bedrooms | $185K | $215K | +16.2% |
4 Bedrooms | $169.9K | $201.9K | +18.8% |
5+ Bedrooms | $201.5K | - | N/A |
Summary: Michigan Center housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.4%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Michigan Center | $175.5K | $197.5K | +12.5% |
Leoni Township | $195K | $215K | +10.3% |
Housing Supply in Michigan Center, MI
How many homes are available in Michigan Center, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 | 12 | +20.0% |
Summary: The Michigan Center real estate market had 12 homes for sale in May 2024, a 20.0% 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 | 5 | 6 | +20.0% |
3 Bedrooms | 4 | 5 | +25.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Michigan Center 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 increased by 20%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Michigan Center in May 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Michigan Center, MI
How long does it take to sell a home in Michigan Center, MI?
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Michigan Center; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.