Is Newberg 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, Newberg Township has remained a Seller's Market.
Key Takeaway
Newberg Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newberg Township, MI
How much do homes in Newberg Township, MI cost?
Median Sold Price
$213,970
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newberg Township have sold for 15.7% more than they did a year ago.
Summary: The median home sold price in Newberg Township was $213,970 in May 2024, up 15.7% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $181.4K | -17.5% |
| 3 Bedrooms | $174K | $224.5K | +29.0% |
| 4 Bedrooms | $440K | $275K | -37.5% |
| 5+ Bedrooms | $300.5K | - | N/A |
Summary: Newberg Township 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 decreased by 17.5%, 3 bedroom homes increased by 29%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Newberg Township | $185K | $213.9K | +15.7% |
| Marcellus Township | $182.5K | $177.5K | -2.7% |
Housing Supply in Newberg Township, MI
How many homes are available in Newberg Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Summary: The Newberg Township real estate market had 7 homes for sale in May 2024, a 16.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Newberg Township 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 increased by 50%, 4 bedroom homes increased by 100%, 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
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newberg Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 2 homes were sold or pending in Newberg Township in May 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Newberg Township, MI
How long does it take to sell a home in Newberg Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 10 Days | 6 Days | -37.1% |
Summary: Homes in Newberg Township had an average of 6 days on market in May 2024, down by 37.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newberg Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Newberg Township; 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.
