Is Harbor Springs, 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, Harbor Springs has remained a Seller's Market.
Key Takeaway
Harbor Springs is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Harbor Springs, MI
How much do homes in Harbor Springs, MI cost?
Median Sold Price
$532,500
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Harbor Springs have sold for 20.5% more than they did a year ago.
Summary: The median home sold price in Harbor Springs was $532,500 in May 2024, up 20.5% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190.5K | $295K | +54.9% |
| 2 Bedrooms | $352K | $460.4K | +30.8% |
| 3 Bedrooms | $460K | $482K | +4.8% |
| 4 Bedrooms | $552K | $912.5K | +65.3% |
| 5+ Bedrooms | $900K | $900K | 0.0% |
Summary: Harbor Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 54.9%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 65.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| West Traverse Township | $580K | $706.8K | +21.9% |
| Harbor Springs | $442K | $532.5K | +20.5% |
| Little Traverse Township | $410K | $413K | +0.7% |
Housing Supply in Harbor Springs, MI
How many homes are available in Harbor Springs, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 64 | 80 | +25.0% |
Summary: The Harbor Springs real estate market had 80 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 9 | 11 | +22.2% |
| 3 Bedrooms | 22 | 33 | +50.0% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 17 | 16 | -5.9% |
Summary: The Harbor Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Harbor Springs, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Harbor Springs in May 2024, the same as the previous month. Of the 14 sold homes, 64% were sold under asking, 14% were sold at asking, and 21% were sold over asking.
Days on Market for Harbor Springs, MI
How long does it take to sell a home in Harbor Springs, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Harbor Springs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Harbor Springs; 7% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
© 2024 Water Wonderland MLS, Inc © All rights reserved. The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Water Wonderland MLS (WWLX). Real estate listings held by brokerage firms other than this broker are marked with the WWLX logo and the detailed information about said listing includes the listing office.The listings displayed come from various Water Wonderland Board of REALTORS® member offices who have chosen to participate in WWBR. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the site hosting broker(s), nor the listing broker or Water Wonderland Board of REALTORS® shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
Disclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.