$1,033 Closing Credit*
$87,000
576 SqFt
1 Bed
•1 Full Bath
PAULINE MORRISON, Listing Office: MORRIS-RICHARDSON RE
Is Prescott, 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, Prescott has remained a Seller's Market.
Key Takeaway
Prescott is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prescott, MI
How much do homes in Prescott, MI cost?
Median Sold Price
$105,375
$95/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,625(+8.9%)
Key Takeaway
Homes in Prescott have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Prescott was $105,375 in November 2024, up 8.9% from last year, and the median price per square foot was $95.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $81.5K | $65K | -20.2% |
| 2 Bedrooms | $84.2K | $82K | -2.7% |
| 3 Bedrooms | $110K | $129.5K | +17.8% |
| 4 Bedrooms | $30K | $115K | +283.3% |
| 5+ Bedrooms | - | $247K | N/A |
Summary: Prescott housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.2%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 17.8%, 4 bedroom homes increased by 283.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Prescott | $96.7K | $105.3K | +8.9% |
| Richland Township | $315K | $340.3K | +8.1% |
Housing Supply in Prescott, MI
How many homes are available in Prescott, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The Prescott real estate market had 20 homes for sale in November 2024, a 5.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 4 | -33.3% |
| 3 Bedrooms | 9 | 11 | +22.2% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Prescott housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Prescott, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Prescott in November 2024, up by 75.0% month-over-month. Of the 7 sold homes, 0% were sold under asking, 43% were sold at asking, and 57% were sold over asking.
Days on Market for Prescott, MI
How long does it take to sell a home in Prescott, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 124 Days | 50 Days | -59.0% |
Summary: Homes in Prescott had an average of 50 days on market in Nov 2024, down by 59% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Prescott are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 7 homes were sold in Prescott; 43% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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