$3,799 Closing Credit*
$319,900
2,800 SqFt
4 Beds
•3 Full Baths
Bryce Updegraff, Listing Office: PRAEDIUM REALTY ROBIN STRESSMAN & ASSOCIATES
Is Shepherd, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Shepherd has remained a Seller's Market.
Key Takeaway
Shepherd is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shepherd, MI
How much do homes in Shepherd, MI cost?
Median Sold Price
$198,700
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$41,200(+26.2%)
Key Takeaway
Homes in Shepherd have sold for 26.2% more than they did a year ago.
Summary: The median home sold price in Shepherd was $198,700 in October 2024, up 26.2% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $170K | N/A |
| 2 Bedrooms | $160.7K | $142.5K | -11.4% |
| 3 Bedrooms | $155K | $207K | +33.5% |
| 4 Bedrooms | $338K | $249.5K | -26.2% |
| 5+ Bedrooms | $190K | $219K | +15.3% |
Summary: Shepherd 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 decreased by 11.4%, 3 bedroom homes increased by 33.5%, 4 bedroom homes decreased by 26.2%, and 5+ bedroom homes increased by 15.3%.
Median Sold Price Compared To Nearby Cities
| Shepherd | $157.5K | $198.7K | +26.2% |
| Coe Township | $155K | $175K | +12.9% |
Housing Supply in Shepherd, MI
How many homes are available in Shepherd, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 19 | +11.8% |
Summary: The Shepherd real estate market had 19 homes for sale in October 2024, a 11.8% 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 11 | 14 | +27.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Shepherd 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 66.7%, 3 bedroom homes increased by 27.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shepherd, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Shepherd in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for Shepherd, MI
How long does it take to sell a home in Shepherd, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 69 Days | +72.1% |
Summary: Homes in Shepherd had an average of 69 days on market in Oct 2024, up by 72.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Shepherd has remained consistent over time.
Summary: During October 2024, 7 homes were sold in Shepherd; 14% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
