Is Raisin Township, 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, Raisin Township was a Seller's Market.
Key Takeaway
Raisin Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Raisin Township, MI
How much do homes in Raisin Township, MI cost?
Median Sold Price
$273,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Raisin Township have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Raisin Township was $273,000 in May 2024, up 6.6% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $130K | $140K | +7.7% |
| 3 Bedrooms | $249.9K | $257K | +2.8% |
| 4 Bedrooms | $290K | $308.5K | +6.4% |
| 5+ Bedrooms | $335K | $468.7K | +39.9% |
Summary: Raisin 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 7.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 39.9%.
Median Sold Price Compared To Nearby Cities
| Tecumseh | $239K | $257K | +7.5% |
| Tecumseh Township | $239K | $257K | +7.5% |
| Raisin Township | $256K | $273K | +6.6% |
Housing Supply in Raisin Township, MI
How many homes are available in Raisin Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 33 | +6.5% |
Summary: The Raisin Township real estate market had 33 homes for sale in May 2024, a 6.5% 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 | 1 | 0.0% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Raisin 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 increased by 10.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 4 | -66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Raisin Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Raisin Township in May 2024, down by 66.7% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Raisin Township, MI
How long does it take to sell a home in Raisin Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 27 Days | -16.4% |
Summary: Homes in Raisin Township had an average of 27 days on market in May 2024, down by 16.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Raisin Township has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Raisin Township; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
