Is Norvell Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Norvell Township has remained a Seller's Market.
Housing Prices in Norvell Township, MI
How much do homes in Norvell Township, MI cost?
Median Sold Price
$290,000
$228/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Norvell Township was $290,000 in May 2024, down 6.1% from last month, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $101K | - | N/A |
2 Bedrooms | $199.3K | $190K | -4.7% |
3 Bedrooms | $320K | $499.9K | +56.2% |
4 Bedrooms | $115K | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Norvell Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.7%, 3 bedroom homes increased by 56.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Norvell Township, MI
How many homes are available in Norvell Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
21 | 15 | -28.6% |
Summary: The Norvell Township real estate market had 15 homes for sale in May 2024, a 28.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 7 | 3 | -57.1% |
4 Bedrooms | 4 | 4 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Norvell Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes decreased by 57.1%, 4 bedroom homes remained the same, 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
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Norvell Township in May 2024, down by 55.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Norvell Township, MI
How long does it take to sell a home in Norvell Township, MI?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
80 Days | 48 Days | -39.2% |
Summary: Homes in Norvell Township had an average of 48 days on market in May 2024, down by 39.2% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Norvell Township; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.