$6,174 Closing Credit*
$519,900
2,716 SqFt
2 Beds
•1 Full Bath, 1 Partial
Renee Rosa, Listing Office: REO-TCRandolph-233022
Is Peninsula Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Peninsula Township has remained a Seller's Market.
Key Takeaway
Peninsula Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Peninsula Township, MI
How much do homes in Peninsula Township, MI cost?
Median Sold Price
$840,000
$356/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$62,550(+8.0%)
Key Takeaway
Homes in Peninsula Township have sold for 8% more than they did a month ago.
Summary: The median home sold price in Peninsula Township was $840,000 in October 2024, up 8% from last month, and the median price per square foot was $356.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $750K | N/A |
| 2 Bedrooms | $275K | $840K | +205.5% |
| 3 Bedrooms | $732K | $760K | +3.8% |
| 4 Bedrooms | $928K | $1.7M | +83.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Peninsula Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 205.5%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 83.4%, and 5+ bedroom homes did not change.
Housing Supply in Peninsula Township, MI
How many homes are available in Peninsula Township, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 45 | 45 | 0.0% |
Summary: The Peninsula Township real estate market had 45 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Peninsula Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peninsula Township, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Peninsula Township in October 2024, up by 10.0% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Peninsula Township, MI
How long does it take to sell a home in Peninsula Township, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 65 Days | 106 Days | +63.2% |
Summary: Homes in Peninsula Township had an average of 106 days on market in Oct 2024, up by 63.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Peninsula Township has remained consistent over time.
Summary: During October 2024, 11 homes were sold in Peninsula Township; 9% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 45% of homes were sold over 90 days.
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