Is Homer Township, 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, Homer Township has remained a Seller's Market.
Key Takeaway
Homer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homer Township, MI
How much do homes in Homer Township, MI cost?
Median Sold Price
$155,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Homer Township have sold for 8.8% less than they did a year ago.
Summary: The median home sold price in Homer Township was $155,000 in May 2024, down 8.8% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $150K | N/A |
| 2 Bedrooms | $110K | $148K | +34.5% |
| 3 Bedrooms | $169K | $155K | -8.3% |
| 4 Bedrooms | $220K | $145K | -34.1% |
| 5+ Bedrooms | $270K | $517.5K | +91.7% |
Summary: Homer Township 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 34.5%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes decreased by 34.1%, and 5+ bedroom homes increased by 91.7%.
Median Sold Price Compared To Nearby Cities
| Midland Charter Township | $200K | $236K | +18.0% |
| Midland | $200K | $234.8K | +17.4% |
| Lincoln Township | $162.5K | $166K | +2.2% |
| Homer Township | $170K | $155K | -8.8% |
Housing Supply in Homer Township, MI
How many homes are available in Homer Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Summary: The Homer Township real estate market had 14 homes for sale in May 2024, a 55.6% 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 | 0 | 3 | +100.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Homer Township 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 increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Homer Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Homer Township in May 2024, the same as the previous month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Homer Township, MI
How long does it take to sell a home in Homer Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 44 Days | +157.0% |
Summary: Homes in Homer Township had an average of 44 days on market in May 2024, up by 157% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Homer Township has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Homer Township; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
