Is Eaton Rapids Township, 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, Eaton Rapids Township has remained a Seller's Market.
Key Takeaway
Eaton Rapids Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Eaton Rapids Township, MI
How much do homes in Eaton Rapids Township, MI cost?
Median Sold Price
$235,000
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Eaton Rapids Township have sold for 17.8% more than they did a year ago.
Summary: The median home sold price in Eaton Rapids Township was $235,000 in May 2024, up 17.8% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $125K | N/A |
| 2 Bedrooms | $176.2K | $185K | +5.0% |
| 3 Bedrooms | $196.9K | $226K | +14.7% |
| 4 Bedrooms | $218.1K | $275K | +26.1% |
| 5+ Bedrooms | $307K | $264.9K | -13.7% |
Summary: Eaton Rapids Township 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 5%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes decreased by 13.7%.
Median Sold Price Compared To Nearby Cities
| Eaton Rapids Township | $199.4K | $235K | +17.8% |
| Eaton Rapids | $199.9K | $235K | +17.6% |
| Delhi Charter Township | $247.1K | $280.5K | +13.5% |
| Windsor Charter Township | $270.7K | $284K | +4.9% |
| Aurelius Township | $274K | $273.2K | -0.3% |
Housing Supply in Eaton Rapids Township, MI
How many homes are available in Eaton Rapids Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 39 | 55 | +41.0% |
Summary: The Eaton Rapids Township real estate market had 55 homes for sale in May 2024, a 41.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 18 | 28 | +55.6% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Eaton Rapids Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 55.6%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Eaton Rapids Township, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Eaton Rapids Township in May 2024, up by 100.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 25% were sold at asking, and 58% were sold over asking.
Days on Market for Eaton Rapids Township, MI
How long does it take to sell a home in Eaton Rapids Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 66 Days | +54.6% |
Summary: Homes in Eaton Rapids Township had an average of 66 days on market in May 2024, up by 54.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Eaton Rapids Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Eaton Rapids Township; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% 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.