Is East Tawas, 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, East Tawas was a Buyer's Market.
Housing Prices in East Tawas, MI
How much do homes in East Tawas, MI cost?
Median Sold Price
$176,250
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in East Tawas was $176,250 in May 2024, up 8.8% 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 | - | $129.5K | N/A |
2 Bedrooms | $151.9K | $159.5K | +5.0% |
3 Bedrooms | $169.9K | $207K | +21.8% |
4 Bedrooms | $120K | $232.5K | +93.8% |
5+ Bedrooms | - | $255K | N/A |
Summary: East Tawas 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 5%, 3 bedroom homes increased by 21.8%, 4 bedroom homes increased by 93.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
East Tawas | $162K | $176.2K | +8.8% |
Baldwin Township | $131K | $136.5K | +4.2% |
Housing Supply in East Tawas, MI
How many homes are available in East Tawas, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 25 | 0.0% |
Summary: The East Tawas real estate market had 25 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 9 | 10 | +11.1% |
4 Bedrooms | 6 | 1 | -83.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The East Tawas 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 11.1%, 4 bedroom homes decreased by 83.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 4 | -55.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in East Tawas in May 2024, down by 55.6% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for East Tawas, MI
How long does it take to sell a home in East Tawas, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 66 Days | +85.4% |
Summary: Homes in East Tawas had an average of 66 days on market in May 2024, up by 85.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in East Tawas; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.