Is Tipton, 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, Tipton was a Seller's Market.
Housing Prices in Tipton, MI
How much do homes in Tipton, MI cost?
Median Sold Price
$318,500
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Tipton was $318,500 in May 2024, up 2.7% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135.3K | - | N/A |
2 Bedrooms | $255K | $199.9K | -21.6% |
3 Bedrooms | $320K | $321.7K | 0.5% |
4 Bedrooms | $345K | $435K | +26.1% |
5+ Bedrooms | - | $356.2K | N/A |
Summary: Tipton 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 decreased by 21.6%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Franklin Township | $457.5K | $560K | +22.4% |
Manchester Township | $285K | $312.5K | +9.6% |
Tipton | $310.2K | $318.5K | +2.7% |
Adrian Township | $185K | $185.9K | 0.5% |
Housing Supply in Tipton, MI
How many homes are available in Tipton, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 11 | -8.3% |
Summary: The Tipton real estate market had 11 homes for sale in May 2024, a 8.3% 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 | 2 | 4 | +100.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 5 | 3 | -40.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Tipton 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 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 1 | -85.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Tipton in May 2024, down by 85.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Tipton, MI
How long does it take to sell a home in Tipton, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
61 Days | 65 Days | +6.1% |
Summary: Homes in Tipton had an average of 65 days on market in May 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Tipton; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.