Is Sherman 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, Sherman Township was a Buyer's Market.
Key Takeaway
Sherman Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sherman Township, MI
How much do homes in Sherman Township, MI cost?
Median Sold Price
$324,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sherman Township have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in Sherman Township was $324,000 in May 2024, down 1.8% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $178.6K | N/A |
| 2 Bedrooms | $225K | $295K | +31.1% |
| 3 Bedrooms | $330K | $308K | -6.7% |
| 4 Bedrooms | $335K | $400K | +19.4% |
| 5+ Bedrooms | $699K | $470K | -32.8% |
Summary: Sherman 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 31.1%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 19.4%, and 5+ bedroom homes decreased by 32.8%.
Median Sold Price Compared To Nearby Cities
| Sturgis | $175K | $185K | +5.7% |
| Sturgis Township | $175K | $185K | +5.7% |
| Nottawa Township | $200.2K | $200K | -0.1% |
| Sherman Township | $330K | $324K | -1.8% |
| Burr Oak Township | $185K | $180K | -2.7% |
Housing Supply in Sherman Township, MI
How many homes are available in Sherman Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 13 | -13.3% |
Summary: The Sherman Township real estate market had 13 homes for sale in May 2024, a 13.3% decrease 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 | 5 | 4 | -20.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Sherman 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 decreased by 20%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sherman Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Sherman Township in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Sherman Township, MI
How long does it take to sell a home in Sherman Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 61 Days | +105.6% |
Summary: Homes in Sherman Township had an average of 61 days on market in May 2024, up by 105.6% compared to last year.
Breakdown of Home Sale Times
2 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 Sherman Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Sherman Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
