$4,800,000
6,694 SqFt
5 Beds
•3 Full Baths
Shawn Schmidt, Listing Office: Coldwell Banker Schmidt Traverse City
Is Suttons Bay, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Suttons Bay has remained a Seller's Market.
Key Takeaway
Suttons Bay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Suttons Bay, MI
How much do homes in Suttons Bay, MI cost?
Median Sold Price
$1,087,500
$340/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$237,500(+27.9%)
Key Takeaway
Homes in Suttons Bay have sold for 27.9% more than they did a month ago.
Summary: The median home sold price in Suttons Bay was $1,087,500 in October 2024, up 27.9% from last month, and the median price per square foot was $340.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $850.9K | $762.5K | -10.4% |
| 3 Bedrooms | $867.5K | $1.2M | +38.3% |
| 4 Bedrooms | $825K | $1.2M | +51.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Suttons Bay housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 10.4%, 3 bedroom homes increased by 38.3%, 4 bedroom homes increased by 51.5%, and 5+ bedroom homes did not change.
Housing Supply in Suttons Bay, MI
How many homes are available in Suttons Bay, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 21 | -25.0% |
Summary: The Suttons Bay real estate market had 21 homes for sale in October 2024, a 25.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 12 | 9 | -25.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Suttons Bay 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 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
2 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 Suttons Bay, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Suttons Bay in October 2024, down by 50.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Suttons Bay, MI
How long does it take to sell a home in Suttons Bay, MI?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 58 Days | +20.6% |
Summary: Homes in Suttons Bay had an average of 58 days on market in Oct 2024, up by 20.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Suttons Bay has remained consistent over time.
Summary: During October 2024, 4 homes were sold in Suttons Bay; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
