Is Tawas City, 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, Tawas City was a Buyer's Market.
Key Takeaway
Tawas City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Tawas City, MI
How much do homes in Tawas City, MI cost?
Median Sold Price
$183,750
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tawas City have sold for 26.7% more than they did a year ago.
Summary: The median home sold price in Tawas City was $183,750 in May 2024, up 26.7% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $40K | N/A |
| 2 Bedrooms | $110K | $193.2K | +75.7% |
| 3 Bedrooms | $110K | $171K | +55.5% |
| 4 Bedrooms | $333.6K | $275K | -17.6% |
| 5+ Bedrooms | $145K | - | N/A |
Summary: Tawas City 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 75.7%, 3 bedroom homes increased by 55.5%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Tawas City | $145K | $183.7K | +26.7% |
| East Tawas | $162K | $176.2K | +8.8% |
| Baldwin Township | $131K | $136.5K | +4.2% |
Housing Supply in Tawas City, MI
How many homes are available in Tawas City, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 24 | +41.2% |
Summary: The Tawas City real estate market had 24 homes for sale in May 2024, a 41.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Tawas City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 80%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tawas City, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Tawas City in May 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Tawas City, MI
How long does it take to sell a home in Tawas City, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 80 Days | 63 Days | -20.9% |
Summary: Homes in Tawas City had an average of 63 days on market in May 2024, down by 20.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Tawas City has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Tawas City; 0% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
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