Is Owosso, 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, Owosso has remained a Seller's Market.
Key Takeaway
Owosso is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Owosso, MI
How much do homes in Owosso, MI cost?
Median Sold Price
$159,500
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Owosso have sold for 14.8% more than they did a year ago.
Summary: The median home sold price in Owosso was $159,500 in May 2024, up 14.8% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $64K | $64.5K | +0.8% |
| 2 Bedrooms | $110K | $130K | +18.2% |
| 3 Bedrooms | $143.6K | $166K | +15.5% |
| 4 Bedrooms | $160K | $196K | +22.5% |
| 5+ Bedrooms | $175K | $297.5K | +70.0% |
Summary: Owosso housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes increased by 70%.
Median Sold Price Compared To Nearby Cities
| Owosso Charter Township | $137.8K | $159K | +15.3% |
| Owosso | $138.9K | $159.5K | +14.8% |
| Caledonia Charter Township | $355K | $371.1K | +4.5% |
Housing Supply in Owosso, MI
How many homes are available in Owosso, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 102 | 97 | -4.9% |
Summary: The Owosso real estate market had 97 homes for sale in May 2024, a 4.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 61 | 59 | -3.3% |
| 4 Bedrooms | 22 | 16 | -27.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Owosso 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 increased by 7.1%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 | 33 | -8.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owosso, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Owosso in May 2024, down by 8.3% month-over-month. Of the 33 sold homes, 33% were sold under asking, 12% were sold at asking, and 55% were sold over asking.
Days on Market for Owosso, MI
How long does it take to sell a home in Owosso, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 31 Days | +52.4% |
Summary: Homes in Owosso had an average of 31 days on market in May 2024, up by 52.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Owosso are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in Owosso; 76% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.