Is Frankenmuth 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, Frankenmuth Township has remained a Seller's Market.
Housing Prices in Frankenmuth Township, MI
How much do homes in Frankenmuth Township, MI cost?
Median Sold Price
$301,500
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Frankenmuth Township was $301,500 in May 2024, up 4.1% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $205K | $242K | +18.0% |
3 Bedrooms | $286.8K | $291.5K | +1.6% |
4 Bedrooms | $353.9K | $368K | +4.0% |
5+ Bedrooms | $370K | $530K | +43.2% |
Summary: Frankenmuth 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 18%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 43.2%.
Median Sold Price Compared To Nearby Cities
Tuscola Township | $202.7K | $216K | +6.5% |
Frankenmuth Township | $289.5K | $301.5K | +4.1% |
Frankenmuth | $290K | $301.5K | +4.0% |
Bridgeport | $170K | $158.9K | -6.5% |
Housing Supply in Frankenmuth Township, MI
How many homes are available in Frankenmuth Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 38 | +18.8% |
Summary: The Frankenmuth Township real estate market had 38 homes for sale in May 2024, a 18.8% 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 | 18 | 17 | -5.6% |
4 Bedrooms | 8 | 13 | +62.5% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Frankenmuth Township 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 decreased by 5.6%, 4 bedroom homes increased by 62.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Frankenmuth Township in May 2024, up by 22.2% month-over-month. Of the 11 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% were sold over asking.
Days on Market for Frankenmuth Township, MI
How long does it take to sell a home in Frankenmuth Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
45 Days | 31 Days | -30.6% |
Summary: Homes in Frankenmuth Township had an average of 31 days on market in May 2024, down by 30.6% compared to last year.
Breakdown of Home Sale Times
7 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, 11 homes were sold in Frankenmuth Township; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.