Is Montrose Charter 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, Montrose Charter Township has remained a Seller's Market.
Housing Prices in Montrose Charter Township, MI
How much do homes in Montrose Charter Township, MI cost?
Median Sold Price
$187,844
$131/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Montrose Charter Township was $187,844 in May 2024, up 12.5% from last year, and the median price per square foot was $131.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $75K | - | N/A |
2 Bedrooms | $118K | $135K | +14.4% |
3 Bedrooms | $168K | $187.4K | +11.6% |
4 Bedrooms | $240K | $245K | +2.1% |
5+ Bedrooms | $118.3K | $172.5K | +45.7% |
Summary: Montrose Charter Township 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 increased by 14.4%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 45.7%.
Median Sold Price Compared To Nearby Cities
Burt | $157K | $180K | +14.6% |
Montrose | $162K | $185K | +14.2% |
Montrose Charter Township | $167K | $187.8K | +12.5% |
Vienna Charter Township | $201.9K | $218.2K | +8.1% |
Taymouth Township | $183K | $194.5K | +6.3% |
Housing Supply in Montrose Charter Township, MI
How many homes are available in Montrose Charter Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
29 | 24 | -17.2% |
Summary: The Montrose Charter Township real estate market had 24 homes for sale in May 2024, a 17.2% decrease 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 | 6 | 4 | -33.3% |
3 Bedrooms | 17 | 14 | -17.6% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Montrose Charter Township 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 decreased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 6 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Montrose Charter Township in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Montrose Charter Township, MI
How long does it take to sell a home in Montrose Charter Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 18 Days | +53.2% |
Summary: Homes in Montrose Charter Township had an average of 18 days on market in May 2024, up by 53.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Montrose Charter Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.