Is Bridgman, 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, Bridgman has remained a Seller's Market.
Key Takeaway
Bridgman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bridgman, MI
How much do homes in Bridgman, MI cost?
Median Sold Price
$314,950
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bridgman have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in Bridgman was $314,950 in May 2024, down 4.3% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $164.9K | $200K | +21.3% |
| 3 Bedrooms | $284.4K | $329.9K | +16.0% |
| 4 Bedrooms | $375K | $445K | +18.7% |
| 5+ Bedrooms | $475K | $585K | +23.2% |
Summary: Bridgman 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 21.3%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 18.7%, and 5+ bedroom homes increased by 23.2%.
Median Sold Price Compared To Nearby Cities
| Lake Charter Township | $159.9K | $190K | +18.8% |
| Sawyer | $425K | $462.7K | +8.9% |
| Bridgman | $329K | $314.9K | -4.3% |
Housing Supply in Bridgman, MI
How many homes are available in Bridgman, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Summary: The Bridgman real estate market had 14 homes for sale in May 2024, a 16.7% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 2 | 5 | +150.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Bridgman 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 decreased by 14.3%, 4 bedroom homes increased by 150%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bridgman, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Bridgman in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Bridgman, MI
How long does it take to sell a home in Bridgman, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 140 Days | +218.3% |
Summary: Homes in Bridgman had an average of 140 days on market in May 2024, up by 218.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Bridgman are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 3 homes were sold in Bridgman; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
