Is Burr Oak, 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, Burr Oak has remained a Seller's Market.
Housing Prices in Burr Oak, MI
How much do homes in Burr Oak, MI cost?
Median Sold Price
$166,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Burr Oak was $166,000 in May 2024, down 10.3% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | - | N/A |
2 Bedrooms | $127K | $97.5K | -23.2% |
3 Bedrooms | $180K | $180K | 0.0% |
4 Bedrooms | $431K | $151K | -65.0% |
5+ Bedrooms | $337.5K | $330K | -2.2% |
Summary: Burr Oak 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 decreased by 23.2%, 3 bedroom homes did not change, 4 bedroom homes decreased by 65%, and 5+ bedroom homes decreased by 2.2%.
Median Sold Price Compared To Nearby Cities
Burr Oak Township | $185K | $180K | -2.7% |
Burr Oak | $185K | $166K | -10.3% |
Housing Supply in Burr Oak, MI
How many homes are available in Burr Oak, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 6 | +50.0% |
Summary: The Burr Oak real estate market had 6 homes for sale in May 2024, a 50.0% 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 | 1 | +100.0% |
3 Bedrooms | 3 | 5 | +66.7% |
4 Bedrooms | 1 | 0 | -100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Burr Oak 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 increased by 100%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Burr Oak in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Burr Oak, MI
How long does it take to sell a home in Burr Oak, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 25 Days | +322.2% |
Summary: Homes in Burr Oak had an average of 25 days on market in May 2024, up by 322.2% compared to last year.
Breakdown of Home Sale Times
2 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, 3 homes were sold in Burr Oak; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.