$279,000
31.39 Acres
Land
Teri Aiuto, Listing Office: Manchester Real Estate LLC
Is Norvell Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Norvell Township has remained a Seller's Market.
Key Takeaway
Norvell Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norvell Township, MI
How much do homes in Norvell Township, MI cost?
Median Sold Price
$314,500
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$38,250(+13.8%)
Key Takeaway
Homes in Norvell Township have sold for 13.8% more than they did a year ago.
Summary: The median home sold price in Norvell Township was $314,500 in November 2024, up 13.8% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136K | $101K | -25.7% |
| 2 Bedrooms | $212.5K | $205K | -3.5% |
| 3 Bedrooms | $282.5K | $324.9K | +15.0% |
| 4 Bedrooms | $490K | $304K | -38.0% |
| 5+ Bedrooms | $585K | $510K | -12.8% |
Summary: Norvell Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.7%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 15%, 4 bedroom homes decreased by 38%, and 5+ bedroom homes decreased by 12.8%.
Median Sold Price Compared To Nearby Cities
| Manchester Township | $299.9K | $362.4K | +20.9% |
| Norvell Township | $276.2K | $314.5K | +13.8% |
Housing Supply in Norvell Township, MI
How many homes are available in Norvell Township, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Summary: The Norvell Township real estate market had 15 homes for sale in November 2024, a 25.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Norvell Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norvell Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Norvell Township in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Norvell Township, MI
How long does it take to sell a home in Norvell Township, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 52 Days | 71 Days | +35.7% |
Summary: Homes in Norvell Township had an average of 71 days on market in Nov 2024, up by 35.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norvell Township has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Norvell Township; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
