Is Suttons Bay, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Suttons Bay has remained a Seller's Market.
Key Takeaway
Suttons Bay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Suttons Bay, MI
How much do homes in Suttons Bay, MI cost?
Median Sold Price
$675,000
$279/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Suttons Bay have sold for 22% less than they did a month ago.
Summary: The median home sold price in Suttons Bay was $675,000 in May 2024, down 22% from last month, and the median price per square foot was $279.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $865K | $650K | -24.9% |
| 4 Bedrooms | $822.5K | $855K | +4.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Suttons Bay 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 decreased by 24.9%, 4 bedroom homes increased by 4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Suttons Bay | $865K | $675K | -22.0% |
| Suttons Bay Township | $865K | $675K | -22.0% |
Housing Supply in Suttons Bay, MI
How many homes are available in Suttons Bay, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Suttons Bay real estate market had 17 homes for sale in May 2024, a 6.3% 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Suttons Bay 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 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Suttons Bay, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Suttons Bay in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Suttons Bay, MI
How long does it take to sell a home in Suttons Bay, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 Days | 55 Days | +69.9% |
Summary: Homes in Suttons Bay had an average of 55 days on market in May 2024, up by 69.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Suttons Bay has remained consistent over time.
Summary: During May 2024, 6 homes were sold in Suttons Bay; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
