Is Denby, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Denby was a Seller's Market.
Key Takeaway
Denby is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Denby, MI
How much do homes in Denby, MI cost?
Median Sold Price
$58,000
$53/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Denby have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Denby was $58,000 in May 2024, up 10.5% from last year, and the median price per square foot was $53.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | - | N/A |
| 2 Bedrooms | $33K | $42.5K | +28.8% |
| 3 Bedrooms | $52.5K | $59.7K | +13.8% |
| 4 Bedrooms | $70K | $84.5K | +20.7% |
| 5+ Bedrooms | $145.6K | $69.7K | -52.1% |
Summary: Denby 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 28.8%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes decreased by 52.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Upper East | $50K | $55.6K | +11.3% |
| Denby | $52.5K | $58K | +10.5% |
| East English Village | $178K | $182.5K | +2.5% |
| Finney | $124.7K | $116K | -7.0% |
| Morningside | $128.2K | $110K | -14.2% |
Housing Supply in Denby, MI
How many homes are available in Denby, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 149 | 158 | +6.0% |
Summary: The Denby real estate market had 158 homes for sale in May 2024, a 6.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 27 | 29 | +7.4% |
| 3 Bedrooms | 109 | 117 | +7.3% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Denby 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 7.4%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 13 | -40.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Denby, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Denby in May 2024, down by 40.9% month-over-month. Of the 13 sold homes, 62% were sold under asking, 31% were sold at asking, and 8% were sold over asking.
Days on Market for Denby, MI
How long does it take to sell a home in Denby, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 38 Days | -31.4% |
Summary: Homes in Denby had an average of 38 days on market in May 2024, down by 31.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Denby are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Denby; 69% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.