Is Colon, 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, Colon has remained a Seller's Market.
Key Takeaway
Colon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colon, MI
How much do homes in Colon, MI cost?
Median Sold Price
$217,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Colon have sold for 20.9% more than they did a year ago.
Summary: The median home sold price in Colon was $217,500 in May 2024, up 20.9% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77K | - | N/A |
| 2 Bedrooms | $224.9K | $203.5K | -9.5% |
| 3 Bedrooms | $181.7K | $228.5K | +25.7% |
| 4 Bedrooms | $179.9K | $227.2K | +26.3% |
| 5+ Bedrooms | $164K | $275K | +67.7% |
Summary: Colon 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 9.5%, 3 bedroom homes increased by 25.7%, 4 bedroom homes increased by 26.3%, and 5+ bedroom homes increased by 67.7%.
Median Sold Price Compared To Nearby Cities
| Colon Township | $181.7K | $222K | +22.1% |
| Colon | $179.9K | $217.5K | +20.9% |
Housing Supply in Colon, MI
How many homes are available in Colon, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 16 | +6.7% |
Summary: The Colon real estate market had 16 homes for sale in May 2024, a 6.7% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Colon 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 decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Colon, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Colon in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Colon, MI
How long does it take to sell a home in Colon, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 12 Days | 23 Days | +95.0% |
Summary: Homes in Colon had an average of 23 days on market in May 2024, up by 95% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Colon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Colon; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
