$2,197 Closing Credit*
$185,000
1,333 SqFt
3 Beds
•2 Full Baths
Marc Rosas, Listing Office: Five Star Real Estate - Hart
Is Shelby, 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, Shelby was a Seller's Market.
Key Takeaway
Shelby is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Shelby, MI
How much do homes in Shelby, MI cost?
Median Sold Price
$209,950
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$10,050(-4.6%)
Key Takeaway
Homes in Shelby have sold for 4.6% less than they did a year ago.
Summary: The median home sold price in Shelby was $209,950 in October 2024, down 4.6% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $102.5K | -43.1% |
| 2 Bedrooms | $275K | $149.9K | -45.5% |
| 3 Bedrooms | $220K | $270K | +22.7% |
| 4 Bedrooms | $404K | $185K | -54.2% |
| 5+ Bedrooms | $262K | $232.4K | -11.3% |
Summary: Shelby housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.1%, 2 bedroom homes decreased by 45.5%, 3 bedroom homes increased by 22.7%, 4 bedroom homes decreased by 54.2%, and 5+ bedroom homes decreased by 11.3%.
Median Sold Price Compared To Nearby Cities
| Shelby Township | $220K | $225K | +2.3% |
| Shelby | $220K | $209.9K | -4.6% |
Housing Supply in Shelby, MI
How many homes are available in Shelby, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The Shelby real estate market had 25 homes for sale in October 2024, a 8.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 12 | 14 | +16.7% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Shelby 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 16.7%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
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 Shelby, 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 Shelby in October 2024, down by 75.0% 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 Shelby, MI
How long does it take to sell a home in Shelby, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 3 Days | -89.0% |
Summary: Homes in Shelby had an average of 3 days on market in Oct 2024, down by 89% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelby are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in Shelby; 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.
