Is Oscoda, 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, Oscoda was a Buyer's Market.
Key Takeaway
Oscoda is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Oscoda, MI
How much do homes in Oscoda, MI cost?
Median Sold Price
$148,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Oscoda have sold for 23.3% more than they did a year ago.
Summary: The median home sold price in Oscoda was $148,000 in May 2024, up 23.3% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47.7K | $76.7K | +60.9% |
| 2 Bedrooms | $131K | $139.5K | +6.5% |
| 3 Bedrooms | $115K | $160K | +39.1% |
| 4 Bedrooms | $273K | $149.4K | -45.3% |
| 5+ Bedrooms | $210K | $162K | -22.9% |
Summary: Oscoda housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 60.9%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 39.1%, 4 bedroom homes decreased by 45.3%, and 5+ bedroom homes decreased by 22.9%.
Median Sold Price Compared To Nearby Cities
| Au Sable Charter Township | $120K | $185K | +54.2% |
| Oscoda Charter Township | $130K | $161.5K | +24.2% |
| Oscoda | $120K | $148K | +23.3% |
| Mikado Township | $219.9K | $155K | -29.5% |
Housing Supply in Oscoda, MI
How many homes are available in Oscoda, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 33 | -2.9% |
Summary: The Oscoda real estate market had 33 homes for sale in May 2024, a 2.9% decrease 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 | 8 | 7 | -12.5% |
| 3 Bedrooms | 18 | 18 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Oscoda 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 12.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oscoda, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Oscoda in May 2024, up by 50.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 22% were sold at asking, and 44% were sold over asking.
Days on Market for Oscoda, MI
How long does it take to sell a home in Oscoda, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 59 Days | +892.9% |
Summary: Homes in Oscoda had an average of 59 days on market in May 2024, up by 892.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Oscoda has remained consistent over time.
Summary: During May 2024, 9 homes were sold in Oscoda; 11% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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