$1,425 Closing Credit*
$120,000
2,007 SqFt
5 Beds
•2 Full Baths
Tracey Hernly & Co., Listing Office: Howard Hanna Real Estate Executives
Is Morenci, 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, Morenci has remained a Seller's Market.
Key Takeaway
Morenci is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morenci, MI
How much do homes in Morenci, MI cost?
Median Sold Price
$146,500
$116/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$1,500(+1.0%)
Key Takeaway
Homes in Morenci have sold for 1% more than they did a month ago.
Summary: The median home sold price in Morenci was $146,500 in November 2024, up 1% from last month, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $9K | - | N/A |
| 2 Bedrooms | $145K | - | N/A |
| 3 Bedrooms | $140K | $136K | -2.9% |
| 4 Bedrooms | $172.5K | - | N/A |
| 5+ Bedrooms | - | $860K | N/A |
Summary: Morenci housing prices by bedroom type for November 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 decreased by 2.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Seneca Township | $42K | $132K | +214.3% |
| Morenci | $145K | $146.5K | +1.0% |
Housing Supply in Morenci, MI
How many homes are available in Morenci, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 25 | -3.8% |
Summary: The Morenci real estate market had 25 homes for sale in November 2024, a 3.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 16 | 17 | +6.3% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Morenci housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morenci, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Morenci in November 2024, down by 33.3% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Morenci, MI
How long does it take to sell a home in Morenci, MI?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 43 Days | 64 Days | +49.2% |
Summary: Homes in Morenci had an average of 64 days on market in Nov 2024, up by 49.2% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Morenci are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 6 homes were sold in Morenci; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.