Is Three Oaks Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Three Oaks Township has remained a Seller's Market.
Key Takeaway
Three Oaks Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Three Oaks Township, MI
How much do homes in Three Oaks Township, MI cost?
Median Sold Price
$325,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Three Oaks Township have sold for 28% more than they did a year ago.
Summary: The median home sold price in Three Oaks Township was $325,000 in May 2024, up 28% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $1.8M | N/A |
| 2 Bedrooms | $192.2K | $265K | +37.8% |
| 3 Bedrooms | $252.5K | $307K | +21.6% |
| 4 Bedrooms | $487.5K | $574.5K | +17.8% |
| 5+ Bedrooms | $63.5K | - | N/A |
Summary: Three Oaks Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 37.8%, 3 bedroom homes increased by 21.6%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Three Oaks Township | $254K | $325K | +28.0% |
| Three Oaks | $254K | $325K | +28.0% |
| Union Pier | $692.5K | $720K | +4.0% |
| Chikaming Township | $602.5K | $576.5K | -4.3% |
Housing Supply in Three Oaks Township, MI
How many homes are available in Three Oaks Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The Three Oaks Township real estate market had 23 homes for sale in May 2024, a 9.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Three Oaks Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Three Oaks Township, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Three Oaks Township in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Three Oaks Township, MI
How long does it take to sell a home in Three Oaks Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 97 Days | 116 Days | +19.3% |
Summary: Homes in Three Oaks Township had an average of 116 days on market in May 2024, up by 19.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Three Oaks Township has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Three Oaks Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
