$8,301 Closing Credit*
$699,000
1,750 SqFt
3 Beds
•2 Full Baths
Rob Gow, Listing Office: Berkshire Hathaway HomeServices Chicago
Is New Buffalo, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, New Buffalo was a Seller's Market.
Key Takeaway
New Buffalo is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New Buffalo, MI
How much do homes in New Buffalo, MI cost?
Median Sold Price
$642,827
$381/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$76,577(+13.5%)
Key Takeaway
Homes in New Buffalo have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in New Buffalo was $642,827 in October 2024, up 13.5% from last year, and the median price per square foot was $381.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.2K | $439.5K | +32.3% |
| 2 Bedrooms | $377.5K | $372.5K | -1.3% |
| 3 Bedrooms | $515K | $555K | +7.8% |
| 4 Bedrooms | $636.2K | $897.5K | +41.1% |
| 5+ Bedrooms | $1.3M | $1.9M | +41.3% |
Summary: New Buffalo housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 32.3%, 2 bedroom homes decreased by 1.3%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 41.1%, and 5+ bedroom homes increased by 41.3%.
Median Sold Price Compared To Nearby Cities
| Union Pier | $810K | $1.0M | +25.0% |
| New Buffalo Township | $582.5K | $669.5K | +14.9% |
| New Buffalo | $566.2K | $642.8K | +13.5% |
Housing Supply in New Buffalo, MI
How many homes are available in New Buffalo, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 73 | 78 | +6.8% |
Summary: The New Buffalo real estate market had 78 homes for sale in October 2024, a 6.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 31 | 33 | +6.5% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The New Buffalo housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Asking Price vs. Sold Price
11 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 New Buffalo, you may be able to get a good deal. 91.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in New Buffalo in October 2024, up by 33.3% month-over-month. Of the 12 sold homes, 92% were sold under asking, 0% were sold at asking, and 8% were sold over asking.
Days on Market for New Buffalo, MI
How long does it take to sell a home in New Buffalo, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 83 Days | 100 Days | +19.5% |
Summary: Homes in New Buffalo had an average of 100 days on market in Oct 2024, up by 19.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in New Buffalo are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 12 homes were sold in New Buffalo; 33% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.
