Is Tecumseh, 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, Tecumseh has remained a Seller's Market.
Key Takeaway
Tecumseh is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Tecumseh, MI
How much do homes in Tecumseh, MI cost?
Median Sold Price
$257,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tecumseh have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Tecumseh was $257,000 in May 2024, up 7.5% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $50K | N/A |
| 2 Bedrooms | $185K | $210K | +13.5% |
| 3 Bedrooms | $220K | $257K | +16.8% |
| 4 Bedrooms | $275K | $260K | -5.5% |
| 5+ Bedrooms | $355K | $465K | +31.0% |
Summary: Tecumseh 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 13.5%, 3 bedroom homes increased by 16.8%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes increased by 31%.
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 Tecumseh, MI
How many homes are available in Tecumseh, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 58 | +5.5% |
Summary: The Tecumseh real estate market had 58 homes for sale in May 2024, a 5.5% 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 | 9 | 5 | -44.4% |
| 3 Bedrooms | 32 | 36 | +12.5% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Tecumseh 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 44.4%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 13 | -38.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Tecumseh, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Tecumseh in May 2024, down by 38.1% month-over-month. Of the 13 sold homes, 62% were sold under asking, 31% were sold at asking, and 8% were sold over asking.
Days on Market for Tecumseh, MI
How long does it take to sell a home in Tecumseh, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 57 Days | +36.6% |
Summary: Homes in Tecumseh had an average of 57 days on market in May 2024, up by 36.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Tecumseh has remained consistent over time.
Summary: During May 2024, 13 homes were sold in Tecumseh; 15% of homes were sold within 30 days, 77% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
