$2,730 Closing Credit*
$229,900
1,575 SqFt
3 Beds
•1 Full Bath, 1 Partial
Bryce Updegraff, Listing Office: PRAEDIUM REALTY ROBIN STRESSMAN & ASSOCIATES
Is Parchment, 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, Parchment has remained a Seller's Market.
Key Takeaway
Parchment is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parchment, MI
How much do homes in Parchment, MI cost?
Median Sold Price
$227,000
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,000(+13.5%)
Key Takeaway
Homes in Parchment have sold for 13.5% more than they did a year ago.
Summary: The median home sold price in Parchment was $227,000 in November 2024, up 13.5% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $162.5K | $160K | -1.5% |
| 3 Bedrooms | $220K | $195K | -11.4% |
| 4 Bedrooms | $200K | $257K | +28.5% |
| 5+ Bedrooms | - | $265K | N/A |
Summary: Parchment housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.5%, 3 bedroom homes decreased by 11.4%, 4 bedroom homes increased by 28.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cooper Charter Township | $229K | $264.8K | +15.6% |
| Parchment | $200K | $227K | +13.5% |
| Kalamazoo Charter Township | $219.4K | $230.5K | +5.1% |
| Kalamazoo | $219.7K | $230.3K | +4.8% |
Housing Supply in Parchment, MI
How many homes are available in Parchment, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Summary: The Parchment real estate market had 6 homes for sale in November 2024, a 50.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 4 | +100.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Parchment housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
2 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 Parchment, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Parchment in November 2024, up by 100.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Parchment, MI
How long does it take to sell a home in Parchment, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 3 Days | 8 Days | +177.8% |
Summary: Homes in Parchment had an average of 8 days on market in Nov 2024, up by 177.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Parchment are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Parchment; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
