$2,806,000
3,245 SqFt
4 Beds
•3 Full Baths, 1 Partial
Lisa Stelter, Brynn Stelter, Listing Office: The Charles Reinhart Company
Is Northeast, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Northeast has remained a Seller's Market.
Key Takeaway
Northeast is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northeast, MI
How much do homes in Northeast, MI cost?
Median Sold Price
$550,000
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,995(+2.2%)
Key Takeaway
Homes in Northeast have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Northeast was $550,000 in October 2024, up 2.2% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $242.5K | $290K | +19.6% |
| 2 Bedrooms | $302.4K | $317K | +4.8% |
| 3 Bedrooms | $520K | $549.9K | +5.8% |
| 4 Bedrooms | $605K | $705.7K | +16.7% |
| 5+ Bedrooms | $997K | $1.0M | +0.9% |
Summary: Northeast housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.6%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Central | $582.5K | $632.9K | +8.7% |
| Northeast | $538K | $550K | +2.2% |
Housing Supply in Northeast, MI
How many homes are available in Northeast, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 91 | 102 | +12.1% |
Summary: The Northeast real estate market had 102 homes for sale in October 2024, a 12.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 36 | 36 | 0.0% |
| 4 Bedrooms | 20 | 26 | +30.0% |
| 5+ Bedrooms | 15 | 16 | +6.7% |
Summary: The Northeast 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 26.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 19 | -20.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northeast, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Northeast in October 2024, down by 20.8% month-over-month. Of the 19 sold homes, 74% were sold under asking, 0% were sold at asking, and 26% were sold over asking.
Days on Market for Northeast, MI
How long does it take to sell a home in Northeast, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 30 Days | -22.3% |
Summary: Homes in Northeast had an average of 30 days on market in Oct 2024, down by 22.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Northeast are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in Northeast; 53% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
