Is Ecorse, 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, Ecorse has remained a Seller's Market.
Housing Prices in Ecorse, MI
How much do homes in Ecorse, MI cost?
Median Sold Price
$74,750
$74/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ecorse was $74,750 in May 2024, up 1% from last year, and the median price per square foot was $74.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $58K | - | N/A |
2 Bedrooms | $50K | $57.5K | +15.0% |
3 Bedrooms | $85K | $87K | +2.4% |
4 Bedrooms | $74K | $94.7K | +28.0% |
5+ Bedrooms | $125.5K | $113.2K | -9.8% |
Summary: Ecorse 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 15%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 28%, and 5+ bedroom homes decreased by 9.8%.
Median Sold Price Compared To Nearby Cities
Lincoln Park | $134.5K | $150K | +11.5% |
Wyandotte | $169.9K | $185.6K | +9.2% |
River Rouge | $71.2K | $76K | +6.7% |
Ecorse | $74K | $74.7K | +1.0% |
Housing Supply in Ecorse, MI
How many homes are available in Ecorse, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
34 | 31 | -8.8% |
Summary: The Ecorse real estate market had 31 homes for sale in May 2024, a 8.8% decrease 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 | 10 | 9 | -10.0% |
3 Bedrooms | 20 | 19 | -5.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Ecorse 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 decreased by 10%, 3 bedroom homes decreased by 5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 8 | -42.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Ecorse in May 2024, down by 42.9% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for Ecorse, MI
How long does it take to sell a home in Ecorse, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
55 Days | 44 Days | -20.0% |
Summary: Homes in Ecorse had an average of 44 days on market in May 2024, down by 20% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Ecorse; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.