Is Mount Morris, 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, Mount Morris has remained a Seller's Market.
Key Takeaway
Mount Morris is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mount Morris, MI
How much do homes in Mount Morris, MI cost?
Median Sold Price
$134,000
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Morris have sold for 18.6% more than they did a year ago.
Summary: The median home sold price in Mount Morris was $134,000 in May 2024, up 18.6% from last year, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $35.7K | $39.5K | +10.5% |
| 2 Bedrooms | $86.9K | $92.6K | +6.5% |
| 3 Bedrooms | $125K | $139.1K | +11.3% |
| 4 Bedrooms | $144.5K | $159K | +10.0% |
| 5+ Bedrooms | $115K | $160K | +39.1% |
Summary: Mount Morris housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.5%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 39.1%.
Median Sold Price Compared To Nearby Cities
| Mount Morris | $113K | $134K | +18.6% |
| Mount Morris Township | $115K | $130K | +13.0% |
| Genesee Charter Township | $140K | $155K | +10.7% |
Housing Supply in Mount Morris, MI
How many homes are available in Mount Morris, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 61 | -7.6% |
Summary: The Mount Morris real estate market had 61 homes for sale in May 2024, a 7.6% 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 | 11 | 15 | +36.4% |
| 3 Bedrooms | 42 | 38 | -9.5% |
| 4 Bedrooms | 12 | 8 | -33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Mount Morris 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 36.4%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 20 | -9.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Morris, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Mount Morris in May 2024, down by 9.1% month-over-month. Of the 20 sold homes, 40% were sold under asking, 30% were sold at asking, and 30% were sold over asking.
Days on Market for Mount Morris, MI
How long does it take to sell a home in Mount Morris, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 86 Days | 49 Days | -43.2% |
Summary: Homes in Mount Morris had an average of 49 days on market in May 2024, down by 43.2% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mount Morris are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Mount Morris; 70% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 20% 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.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.