Is Manistee, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Manistee was a Neutral Market.
Key Takeaway
Manistee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manistee, MI
How much do homes in Manistee, MI cost?
Median Sold Price
$228,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manistee have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Manistee was $228,500 in May 2024, up 7.3% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $75K | $140.1K | +86.9% |
| 2 Bedrooms | $183K | $230K | +25.7% |
| 3 Bedrooms | $203.7K | $213.5K | +4.8% |
| 4 Bedrooms | $230K | $229K | -0.5% |
| 5+ Bedrooms | $350K | $516.5K | +47.6% |
Summary: Manistee housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 86.9%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 47.6%.
Median Sold Price Compared To Nearby Cities
| Manistee Township | $208.3K | $228.5K | +9.7% |
| Manistee | $212.9K | $228.5K | +7.3% |
| Filer Charter Township | $230K | $225.2K | -2.1% |
Housing Supply in Manistee, MI
How many homes are available in Manistee, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 83 | +22.1% |
Summary: The Manistee real estate market had 83 homes for sale in May 2024, a 22.1% 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 | 17 | 25 | +47.1% |
| 3 Bedrooms | 29 | 32 | +10.3% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Manistee 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 47.1%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manistee, you may be able to get a good deal. 53.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Manistee in May 2024, up by 36.4% month-over-month. Of the 15 sold homes, 53% were sold under asking, 33% were sold at asking, and 13% were sold over asking.
Days on Market for Manistee, MI
How long does it take to sell a home in Manistee, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 74 Days | +145.3% |
Summary: Homes in Manistee had an average of 74 days on market in May 2024, up by 145.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Manistee has remained consistent over time.
Summary: During May 2024, 15 homes were sold in Manistee; 20% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource. 
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.