Is Michiana, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Michiana is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Michiana has remained a Seller's Market.

Key Takeaway

Michiana is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Michiana, MI

How much do homes in Michiana, MI cost?

Median Sold Price

$1,155,000

$585/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

-$95,000(-7.6%)

Key Takeaway

Homes in Michiana have sold for 7.6% less than they did a month ago.

Summary: The median home sold price in Michiana was $1,155,000 in May 2024, down 7.6% from last month, and the median price per square foot was $585.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 --
N/A
2 $1.2M-
N/A
3 --
N/A
4 -$1.1M
N/A
5+ --
N/A

Summary: Michiana housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Michiana, MI

How many homes are available in Michiana, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
440.0%

Summary: The Michiana real estate market had 4 homes for sale in May 2024, the same as April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 22
0.0%
4 12
+100.0%
5+ 00
0.0%

Summary: The Michiana 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 decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Michiana, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Michiana in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Michiana, MI

How long does it take to sell a home in Michiana, MI?

Average Sale Time

Apr 2024May 2024CHANGE
514 Days8 Days-98.4%

Summary: Homes in Michiana had an average of 8 days on market in May 2024, down by 98.4% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Michiana are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 1 homes were sold in Michiana; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 8 Days Ago

Newest Listings in Michiana, MI

Nearby Markets to Michiana, MI

What housing markets are near Michiana, MI?