Is Marathon 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, Marathon Township has remained a Seller's Market.
Key Takeaway
Marathon Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marathon Township, MI
How much do homes in Marathon Township, MI cost?
Median Sold Price
$248,250
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Marathon Township have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Marathon Township was $248,250 in May 2024, up 8.4% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $71K | $211K | +197.2% |
| 2 Bedrooms | $159K | $203K | +27.7% |
| 3 Bedrooms | $205K | $223K | +8.8% |
| 4 Bedrooms | $274.9K | $302.5K | +10.0% |
| 5+ Bedrooms | $866K | $255K | -70.6% |
Summary: Marathon Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 197.2%, 2 bedroom homes increased by 27.7%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 70.6%.
Median Sold Price Compared To Nearby Cities
| Otter Lake | $205K | $232.7K | +13.5% |
| Columbiaville | $227K | $255K | +12.3% |
| Deerfield Township | $225K | $252K | +12.0% |
| Fostoria | $202.3K | $224K | +10.7% |
| Marathon Township | $229K | $248.2K | +8.4% |
Housing Supply in Marathon Township, MI
How many homes are available in Marathon Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Summary: The Marathon Township real estate market had 19 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Marathon Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marathon Township, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Marathon Township in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Marathon Township, MI
How long does it take to sell a home in Marathon Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 44 Days | -28.7% |
Summary: Homes in Marathon Township had an average of 44 days on market in May 2024, down by 28.7% compared to last year.
Breakdown of Home Sale Times
4 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 Marathon Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Marathon Township; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
