Is Durand, 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, Durand has remained a Seller's Market.
Key Takeaway
Durand is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Durand, MI
How much do homes in Durand, MI cost?
Median Sold Price
$155,000
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Durand have sold for 12.9% less than they did a year ago.
Summary: The median home sold price in Durand was $155,000 in May 2024, down 12.9% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $27.7K | - | N/A |
| 2 Bedrooms | $125K | $115K | -8.0% |
| 3 Bedrooms | $191K | $162K | -15.2% |
| 4 Bedrooms | $199.9K | $156.5K | -21.7% |
| 5+ Bedrooms | $144.9K | $222.5K | +53.6% |
Summary: Durand 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 8%, 3 bedroom homes decreased by 15.2%, 4 bedroom homes decreased by 21.7%, and 5+ bedroom homes increased by 53.6%.
Median Sold Price Compared To Nearby Cities
| Vernon Township | $199K | $180K | -9.5% |
| Durand | $177.9K | $155K | -12.9% |
Housing Supply in Durand, MI
How many homes are available in Durand, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Summary: The Durand real estate market had 22 homes for sale in May 2024, a 22.2% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Durand 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 66.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Durand, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Durand in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 14% were sold at asking, and 57% were sold over asking.
Days on Market for Durand, MI
How long does it take to sell a home in Durand, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 24 Days | -34.4% |
Summary: Homes in Durand had an average of 24 days on market in May 2024, down by 34.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Durand are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Durand; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.