Is Imlay City, 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, Imlay City has remained a Seller's Market.
Key Takeaway
Imlay City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Imlay City, MI
How much do homes in Imlay City, MI cost?
Median Sold Price
$265,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Imlay City have sold for 8.2% more than they did a year ago.
Summary: The median home sold price in Imlay City was $265,000 in May 2024, up 8.2% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $74.4K | N/A |
| 2 Bedrooms | $181.5K | $250K | +37.7% |
| 3 Bedrooms | $250K | $295K | +18.0% |
| 4 Bedrooms | $284.9K | $287.5K | +0.9% |
| 5+ Bedrooms | $249K | $250K | 0.4% |
Summary: Imlay City 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 37.7%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Imlay City | $245K | $265K | +8.2% |
| Imlay Township | $333K | $327.5K | -1.7% |
Housing Supply in Imlay City, MI
How many homes are available in Imlay City, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 30 | +7.1% |
Summary: The Imlay City real estate market had 30 homes for sale in May 2024, a 7.1% 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 | 4 | +33.3% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Imlay City 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 33.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Imlay City, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Imlay City in May 2024, up by 10.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.
Days on Market for Imlay City, MI
How long does it take to sell a home in Imlay City, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 81 Days | 21 Days | -73.3% |
Summary: Homes in Imlay City had an average of 21 days on market in May 2024, down by 73.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Imlay City are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Imlay City; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
