$2,969 Closing Credit*
$249,999
608 SqFt
2 Beds
•1 Full Bath
Nicholas Seman, Listing Office: DOBI Real Estate
Is Ray, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Ray was a Seller's Market.
Key Takeaway
Ray is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ray, MI
How much do homes in Ray, MI cost?
Median Sold Price
$405,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$103,500(+34.3%)
Key Takeaway
Homes in Ray have sold for 34.3% more than they did a year ago.
Summary: The median home sold price in Ray was $405,000 in October 2024, up 34.3% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $699.9K | - | N/A |
| 2 Bedrooms | $132.5K | $146K | +10.2% |
| 3 Bedrooms | $275K | $403.5K | +46.7% |
| 4 Bedrooms | $650K | $640K | -1.5% |
| 5+ Bedrooms | $436.5K | $300K | -31.3% |
Summary: Ray housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.2%, 3 bedroom homes increased by 46.7%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 31.3%.
Median Sold Price Compared To Nearby Cities
| Ray | $301.5K | $405K | +34.3% |
| Ray Township | $301.5K | $405K | +34.3% |
| Washington Township | $417.5K | $431.2K | +3.3% |
| Lenox Township | $310K | $306.2K | -1.2% |
Housing Supply in Ray, MI
How many homes are available in Ray, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Summary: The Ray real estate market had 13 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 | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 10 | 11 | +10.0% |
| 4 Bedrooms | 2 | 0 | -100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Ray 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 remained the same, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 1 | -83.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ray, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Ray in October 2024, down by 83.3% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Ray, MI
How long does it take to sell a home in Ray, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 72 Days | +108.7% |
Summary: Homes in Ray had an average of 72 days on market in Oct 2024, up by 108.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ray has remained consistent over time.
Summary: During October 2024, 1 homes were sold in Ray; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.