$3,978 Closing Credit*
$335,000
986 SqFt
3 Beds
•1 Full Bath
Jessica Carter, Listing Office: Keller Williams Ann Arbor
Is South, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, South has remained a Seller's Market.
Key Takeaway
South is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South, MI
How much do homes in South, MI cost?
Median Sold Price
$329,750
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$9,750(+3.0%)
Key Takeaway
Homes in South have sold for 3% more than they did a year ago.
Summary: The median home sold price in South was $329,750 in December 2024, up 3% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $162.8K | -6.9% |
| 2 Bedrooms | $227.7K | $260K | +14.2% |
| 3 Bedrooms | $339K | $345K | +1.8% |
| 4 Bedrooms | $544.2K | $547.4K | +0.6% |
| 5+ Bedrooms | $465.5K | $681.1K | +46.3% |
Summary: South housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.9%, 2 bedroom homes increased by 14.2%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 46.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Georgetown | $266.5K | $305K | +14.4% |
| South | $320K | $329.7K | +3.0% |
Housing Supply in South, MI
How many homes are available in South, MI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 65 | 52 | -20.0% |
Summary: The South real estate market had 52 homes for sale in December 2024, a 20.0% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 27 | 22 | -18.5% |
| 3 Bedrooms | 28 | 21 | -25.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The South housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.5%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 25 | 16 | -36.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in South in December 2024, down by 36.0% month-over-month. Of the 16 sold homes, 69% were sold under asking, 6% were sold at asking, and 25% were sold over asking.
Days on Market for South, MI
How long does it take to sell a home in South, MI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 27 Days | 64 Days | +133.2% |
Summary: Homes in South had an average of 64 days on market in Dec 2024, up by 133.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in South has remained consistent over time.
Summary: During December 2024, 16 homes were sold in South; 19% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
