Is Penn Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Penn Township was a Seller's Market.
Housing Prices in Penn Township, MI
How much do homes in Penn Township, MI cost?
Median Sold Price
$550,000
$305/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Penn Township was $550,000 in May 2024, down 25.2% from last month, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $734.9K | - | N/A |
4 Bedrooms | - | $550K | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Penn Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Penn Township, MI
How many homes are available in Penn Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Summary: The Penn 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 | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 3 | +200.0% |
3 Bedrooms | 3 | 1 | -66.7% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Penn 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 200%, 3 bedroom homes decreased by 66.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Penn Township in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Penn Township, MI
How long does it take to sell a home in Penn Township, MI?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 Days | 28 Days | +460.0% |
Summary: Homes in Penn Township had an average of 28 days on market in May 2024, up by 460% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Penn 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.