Is North Branch 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, North Branch Township has remained a Seller's Market.
Key Takeaway
North Branch Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Branch Township, MI
How much do homes in North Branch Township, MI cost?
Median Sold Price
$269,500
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Branch Township have sold for 22.5% more than they did a year ago.
Summary: The median home sold price in North Branch Township was $269,500 in May 2024, up 22.5% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $270K | N/A |
| 2 Bedrooms | $167.9K | $285K | +69.7% |
| 3 Bedrooms | $208K | $248K | +19.2% |
| 4 Bedrooms | $317.5K | $337.5K | +6.3% |
| 5+ Bedrooms | $485K | $520K | +7.2% |
Summary: North Branch 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 increased by 69.7%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
| Burlington Township | $185K | $242.4K | +31.1% |
| Burnside Township | $266.4K | $329K | +23.5% |
| North Branch Township | $220K | $269.5K | +22.5% |
| North Branch | $220K | $269.5K | +22.5% |
Housing Supply in North Branch Township, MI
How many homes are available in North Branch Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 23 | -17.9% |
Summary: The North Branch Township real estate market had 23 homes for sale in May 2024, a 17.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The North Branch 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 remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Branch Township, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in North Branch Township in May 2024, up by 14.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for North Branch Township, MI
How long does it take to sell a home in North Branch Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 66 Days | 14 Days | -78.8% |
Summary: Homes in North Branch Township had an average of 14 days on market in May 2024, down by 78.8% compared to last year.
Breakdown of Home Sale Times
8 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 North Branch Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in North Branch 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.
