Is Nottawa 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, Nottawa Township has remained a Seller's Market.
Key Takeaway
Nottawa Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nottawa Township, MI
How much do homes in Nottawa Township, MI cost?
Median Sold Price
$200,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Nottawa Township has remained the same since last year.
Summary: The median home sold price in Nottawa Township was $200,000 in May 2024, down 0.1% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110.9K | $132K | +19.0% |
| 2 Bedrooms | $142.9K | $122K | -14.6% |
| 3 Bedrooms | $225K | $350K | +55.5% |
| 4 Bedrooms | $236.9K | $259K | +9.3% |
| 5+ Bedrooms | $677.5K | $228.7K | -66.2% |
Summary: Nottawa Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19%, 2 bedroom homes decreased by 14.6%, 3 bedroom homes increased by 55.5%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 66.2%.
Median Sold Price Compared To Nearby Cities
| Mendon Township | $164.5K | $178.9K | +8.8% |
| Nottawa Township | $200.2K | $200K | -0.1% |
| Sherman Township | $330K | $324K | -1.8% |
Housing Supply in Nottawa Township, MI
How many homes are available in Nottawa Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Summary: The Nottawa Township real estate market had 22 homes for sale in May 2024, a 22.2% increase 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 | 2 | +100.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 10 | 12 | +20.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Nottawa 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 increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Nottawa Township, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Nottawa Township in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% were sold over asking.
Days on Market for Nottawa Township, MI
How long does it take to sell a home in Nottawa Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 31 Days | +106.8% |
Summary: Homes in Nottawa Township had an average of 31 days on market in May 2024, up by 106.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Nottawa Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Nottawa Township; 86% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
