$6,282 Closing Credit*
$529,000
2,545 SqFt
4 Beds
•2 Full Baths
Denny Moore, Listing Office: Keller Williams GR East
Is Shelbyville, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Shelbyville was a Buyer's Market.
Key Takeaway
Shelbyville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shelbyville, MI
How much do homes in Shelbyville, MI cost?
Median Sold Price
$327,450
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$12,550(-3.7%)
Key Takeaway
Homes in Shelbyville have sold for 3.7% less than they did a year ago.
Summary: The median home sold price in Shelbyville was $327,450 in November 2024, down 3.7% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $204K | - | N/A |
| 2 Bedrooms | $291.2K | $313K | +7.5% |
| 3 Bedrooms | $340K | $258.6K | -23.9% |
| 4 Bedrooms | $515K | $444.5K | -13.7% |
| 5+ Bedrooms | $228.5K | $271.8K | +18.9% |
Summary: Shelbyville 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 increased by 7.5%, 3 bedroom homes decreased by 23.9%, 4 bedroom homes decreased by 13.7%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
| Wayland Township | $304.9K | $325K | +6.6% |
| Orangeville Township | $322K | $313K | -2.8% |
| Shelbyville | $340K | $327.4K | -3.7% |
| Martin Township | $275K | $257K | -6.5% |
Housing Supply in Shelbyville, MI
How many homes are available in Shelbyville, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The Shelbyville real estate market had 21 homes for sale in November 2024, a 10.5% 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 | 6 | 7 | +16.7% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Shelbyville 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 increased by 16.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Shelbyville, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Shelbyville in November 2024, up by 500.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Shelbyville, MI
How long does it take to sell a home in Shelbyville, MI?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 24 Days | +4.3% |
Summary: Homes in Shelbyville had an average of 24 days on market in Nov 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shelbyville are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Shelbyville; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
