Is Mancelona, 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, Mancelona has remained a Seller's Market.
Key Takeaway
Mancelona is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mancelona, MI
How much do homes in Mancelona, MI cost?
Median Sold Price
$200,750
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mancelona have sold for 15.7% more than they did a year ago.
Summary: The median home sold price in Mancelona was $200,750 in May 2024, up 15.7% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112.5K | $63.7K | -43.3% |
| 2 Bedrooms | $165K | $145.9K | -11.5% |
| 3 Bedrooms | $180K | $225K | +25.0% |
| 4 Bedrooms | $173.5K | $245K | +41.2% |
| 5+ Bedrooms | - | $330K | N/A |
Summary: Mancelona housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.3%, 2 bedroom homes decreased by 11.5%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 41.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Mancelona Township | $173.5K | $204.5K | +17.9% |
| Mancelona | $173.5K | $200.7K | +15.7% |
Housing Supply in Mancelona, MI
How many homes are available in Mancelona, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Summary: The Mancelona real estate market had 23 homes for sale in May 2024, a 21.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 8 | 10 | +25.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Mancelona housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mancelona, expect to pay close to the asking price. 71.4% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Mancelona in May 2024, up by 75.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 71% were sold at asking, and 0% were sold over asking.
Days on Market for Mancelona, MI
How long does it take to sell a home in Mancelona, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 68 Days | 83 Days | +23.2% |
Summary: Homes in Mancelona had an average of 83 days on market in May 2024, up by 23.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mancelona are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Mancelona; 29% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
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The data relating to real estate on this web site comes in part from the Internet Data Exchange Program of the Northern Michigan MLS (NM-MLS). The listings displayed come from various NM-MLS. member offices who have chosen to participate in NM-MLSX IDX, the detailed information 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 about said listings includes the listing office information. 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 NM-MLS, or this broker shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. © 2024 NM-MLS. All rights reserved
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
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