Is Boyne City, 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, Boyne City has remained a Seller's Market.
Key Takeaway
Boyne City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Boyne City, MI
How much do homes in Boyne City, MI cost?
Median Sold Price
$386,450
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Boyne City have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Boyne City was $386,450 in May 2024, up 10.2% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $397.5K | $205K | -48.4% |
| 2 Bedrooms | $185.7K | $210K | +13.1% |
| 3 Bedrooms | $335K | $382K | +14.0% |
| 4 Bedrooms | $460K | $551.7K | +19.9% |
| 5+ Bedrooms | $915K | $1.2M | +36.6% |
Summary: Boyne City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.4%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 36.6%.
Median Sold Price Compared To Nearby Cities
| Melrose Township | $279.4K | $318K | +13.8% |
| Boyne Valley Township | $271K | $300K | +10.7% |
| Boyne City | $350.7K | $386.4K | +10.2% |
Housing Supply in Boyne City, MI
How many homes are available in Boyne City, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 38 | +18.8% |
Summary: The Boyne City real estate market had 38 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 9 | 10 | +11.1% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 5 | 10 | +100.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Boyne City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 11.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boyne City, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Boyne City in May 2024, up by 25.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for Boyne City, MI
How long does it take to sell a home in Boyne City, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Boyne City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Boyne City; 10% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.