Is Marion, 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, Marion has remained a Seller's Market.
Key Takeaway
Marion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion, MI
How much do homes in Marion, MI cost?
Median Sold Price
$140,500
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Marion have sold for 19.3% less than they did a year ago.
Summary: The median home sold price in Marion was $140,500 in May 2024, down 19.3% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $72.5K | -34.1% |
| 2 Bedrooms | $136.2K | $113K | -17.0% |
| 3 Bedrooms | $170K | $180K | +5.9% |
| 4 Bedrooms | $185K | $130.2K | -29.6% |
| 5+ Bedrooms | $362K | $259K | -28.5% |
Summary: Marion housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes decreased by 17%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes decreased by 28.5%.
Median Sold Price Compared To Nearby Cities
| Marion | $174K | $140.5K | -19.3% |
| Marion Township | $174K | $140.5K | -19.3% |
Housing Supply in Marion, MI
How many homes are available in Marion, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 23 | +64.3% |
Summary: The Marion real estate market had 23 homes for sale in May 2024, a 64.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 0 | -100.0% |
| 2 Bedrooms | 1 | 4 | +300.0% |
| 3 Bedrooms | 7 | 13 | +85.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Marion housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 300%, 3 bedroom homes increased by 85.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Marion in May 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.
Days on Market for Marion, MI
How long does it take to sell a home in Marion, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 100 Days | 52 Days | -47.6% |
Summary: Homes in Marion had an average of 52 days on market in May 2024, down by 47.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Marion has remained consistent over time.
Summary: During May 2024, 6 homes were sold in Marion; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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