Is New Era, 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, New Era was a Neutral Market.
Key Takeaway
New Era is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Era, MI
How much do homes in New Era, MI cost?
Median Sold Price
$238,950
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in New Era have sold for 22.5% more than they did a year ago.
Summary: The median home sold price in New Era was $238,950 in May 2024, up 22.5% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126K | - | N/A |
| 2 Bedrooms | $124K | $168K | +35.5% |
| 3 Bedrooms | $172K | $239.9K | +39.5% |
| 4 Bedrooms | $195K | $251.5K | +29.0% |
| 5+ Bedrooms | $230K | $260K | +13.0% |
Summary: New Era 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 35.5%, 3 bedroom homes increased by 39.5%, 4 bedroom homes increased by 29%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
| New Era | $195K | $238.9K | +22.5% |
| Grant Township | $200K | $223K | +11.5% |
| Shelby Township | $205K | $220K | +7.3% |
Housing Supply in New Era, MI
How many homes are available in New Era, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Summary: The New Era real estate market had 5 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 | 0 | 1 | +100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The New Era 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 remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Era, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in New Era in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for New Era, MI
How long does it take to sell a home in New Era, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 2 Days | 70 Days | +3425.0% |
Summary: Homes in New Era had an average of 70 days on market in May 2024, up by 3425% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in New Era are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in New Era; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
