Is Vergennes 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, Vergennes Township has remained a Seller's Market.
Key Takeaway
Vergennes Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vergennes Township, MI
How much do homes in Vergennes Township, MI cost?
Median Sold Price
$500,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Vergennes Township have sold for 17.6% more than they did a year ago.
Summary: The median home sold price in Vergennes Township was $500,000 in May 2024, up 17.6% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $400K | $399.9K | 0% |
| 3 Bedrooms | $355K | $386K | +8.7% |
| 4 Bedrooms | $456.7K | $554.4K | +21.4% |
| 5+ Bedrooms | $636.9K | $570K | -10.5% |
Summary: Vergennes 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 did not change, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Vergennes Township | $425K | $500K | +17.6% |
| Lowell | $341.8K | $400K | +17.0% |
| Lowell Charter Township | $343.3K | $400K | +16.5% |
| Ada | $580K | $600K | +3.4% |
Housing Supply in Vergennes Township, MI
How many homes are available in Vergennes Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Summary: The Vergennes Township real estate market had 7 homes for sale in May 2024, a 36.4% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 7 | 3 | -57.1% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Vergennes 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 decreased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vergennes Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Vergennes Township in May 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Vergennes Township, MI
How long does it take to sell a home in Vergennes Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 31 Days | +350.0% |
Summary: Homes in Vergennes Township had an average of 31 days on market in May 2024, up by 350% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Vergennes Township has remained consistent over time.
Summary: During May 2024, 2 homes were sold in Vergennes Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
