Is Jerome 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, Jerome Township has remained a Seller's Market.
Housing Prices in Jerome Township, MI
How much do homes in Jerome Township, MI cost?
Median Sold Price
$226,500
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Jerome Township was $226,500 in May 2024, down 1.5% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $175K | $160K | -8.6% |
3 Bedrooms | $228.3K | $221.5K | -3.0% |
4 Bedrooms | $346.2K | $338K | -2.4% |
5+ Bedrooms | $395K | $407.7K | +3.2% |
Summary: Jerome 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 decreased by 8.6%, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
Lincoln Township | $162.5K | $166K | +2.2% |
Jerome Township | $230K | $226.5K | -1.5% |
Edenville Township | $295K | $258.5K | -12.4% |
Sanford | $229.5K | $184K | -19.8% |
Housing Supply in Jerome Township, MI
How many homes are available in Jerome Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 33 | +32.0% |
Summary: The Jerome Township real estate market had 33 homes for sale in May 2024, a 32.0% 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 | 1 | 4 | +300.0% |
3 Bedrooms | 14 | 18 | +28.6% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Jerome 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 300%, 3 bedroom homes increased by 28.6%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 6 | -14.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Jerome Township in May 2024, down by 14.3% month-over-month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Jerome Township, MI
How long does it take to sell a home in Jerome Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
105 Days | 54 Days | -48.7% |
Summary: Homes in Jerome Township had an average of 54 days on market in May 2024, down by 48.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Jerome Township; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.