Is Sturgis, 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, Sturgis has remained a Seller's Market.
Key Takeaway
Sturgis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sturgis, MI
How much do homes in Sturgis, MI cost?
Median Sold Price
$185,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sturgis have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Sturgis was $185,000 in May 2024, up 5.7% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $88.6K | -19.5% |
| 2 Bedrooms | $120K | $128K | +6.7% |
| 3 Bedrooms | $175K | $185K | +5.7% |
| 4 Bedrooms | $225K | $255K | +13.3% |
| 5+ Bedrooms | $324K | $342.5K | +5.7% |
Summary: Sturgis housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.5%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Sturgis | $175K | $185K | +5.7% |
| Sturgis Township | $175K | $185K | +5.7% |
| Sherman Township | $330K | $324K | -1.8% |
| Burr Oak Township | $185K | $180K | -2.7% |
| Fawn River Township | $250K | $177.3K | -29.1% |
Housing Supply in Sturgis, MI
How many homes are available in Sturgis, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 65 | 64 | -1.5% |
Summary: The Sturgis real estate market had 64 homes for sale in May 2024, a 1.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 10 | 7 | -30.0% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 5 | 8 | +60.0% |
Summary: The Sturgis housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 30%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 60%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sturgis, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Sturgis in May 2024, down by 12.5% month-over-month. Of the 14 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for Sturgis, MI
How long does it take to sell a home in Sturgis, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 32 Days | -3.1% |
Summary: Homes in Sturgis had an average of 32 days on market in May 2024, down by 3.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sturgis are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Sturgis; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
