Is Elmira, 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, Elmira has remained a Seller's Market.
Key Takeaway
Elmira is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Elmira, MI
How much do homes in Elmira, MI cost?
Median Sold Price
$235,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elmira have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Elmira was $235,000 in May 2024, down 0.8% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92K | - | N/A |
| 2 Bedrooms | $205K | $198K | -3.4% |
| 3 Bedrooms | $235K | $235K | 0.0% |
| 4 Bedrooms | $240K | $255K | +6.3% |
| 5+ Bedrooms | $510K | $495K | -2.9% |
Summary: Elmira 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 3.4%, 3 bedroom homes did not change, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Star Township | $240K | $249.9K | +4.1% |
| Elmira Township | $245K | $249.9K | +2.0% |
| Elmira | $237K | $235K | -0.8% |
Housing Supply in Elmira, MI
How many homes are available in Elmira, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The Elmira real estate market had 21 homes for sale in May 2024, a 10.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Elmira 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 remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
2 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 Elmira, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Elmira in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 57% were sold at asking, and 14% were sold over asking.
Days on Market for Elmira, MI
How long does it take to sell a home in Elmira, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elmira has remained consistent over time.
Summary: During May 2024, 7 homes were sold in Elmira; 0% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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