Is East Tawas, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Tawas is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, East Tawas was a Buyer's Market.

Key Takeaway

East Tawas 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 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

+$14,250(+8.8%)

Key Takeaway

Homes in East Tawas have sold for 8.8% more than they did a year ago.

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

# BEDSMay 2023May 2024CHANGE
1 -$129.5K
N/A
2 $151.9K$159.5K
+5.0%
3 $169.9K$207K
+21.8%
4 $120K$232.5K
+93.8%
5+ -$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
+8.8%
Baldwin Township
+4.2%

Housing Supply in East Tawas, MI

How many homes are available in East Tawas, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
25250.0%

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

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 812
+50.0%
3 910
+11.1%
4 61
-83.3%
5+ 11
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 2024May 2024CHANGE
94-55.6%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Tawas, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

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 2023May 2024CHANGE
36 Days66 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in East Tawas are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

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