Is Monterey 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, Monterey Township has remained a Seller's Market.
Housing Prices in Monterey Township, MI
How much do homes in Monterey Township, MI cost?
Median Sold Price
$304,500
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Monterey Township was $304,500 in May 2024, up 5% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $65K | N/A |
2 Bedrooms | $178.3K | $378.5K | +112.3% |
3 Bedrooms | $254K | $239.9K | -5.6% |
4 Bedrooms | $306K | $365K | +19.3% |
5+ Bedrooms | $320K | $381K | +19.1% |
Summary: Monterey 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 112.3%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 19.3%, and 5+ bedroom homes increased by 19.1%.
Median Sold Price Compared To Nearby Cities
Hopkins Township | $260.8K | $300K | +15.0% |
Dorr | $314.6K | $334.9K | +6.4% |
Monterey Township | $290K | $304.5K | +5.0% |
Salem Township | $329.5K | $333.4K | +1.2% |
Heath Township | $347K | $350K | +0.9% |
Housing Supply in Monterey Township, MI
How many homes are available in Monterey Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Summary: The Monterey Township real estate market had 4 homes for sale in May 2024, a 33.3% 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 | 0 | 0 | 0.0% |
3 Bedrooms | 2 | 3 | +50.0% |
4 Bedrooms | 0 | 1 | +100.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Monterey 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Monterey Township in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Monterey Township, MI
How long does it take to sell a home in Monterey Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 59 Days | +353.8% |
Summary: Homes in Monterey Township had an average of 59 days on market in May 2024, up by 353.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Monterey 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.