Is Onaway, 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, Onaway has remained a Seller's Market.
Key Takeaway
Onaway is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Onaway, MI
How much do homes in Onaway, MI cost?
Median Sold Price
$206,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Onaway have sold for 59.1% more than they did a year ago.
Summary: The median home sold price in Onaway was $206,000 in May 2024, up 59.1% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $236.4K | N/A |
| 2 Bedrooms | $110K | $244.9K | +122.7% |
| 3 Bedrooms | $135K | $172.5K | +27.8% |
| 4 Bedrooms | $147K | $184.7K | +25.7% |
| 5+ Bedrooms | $549.9K | $80K | -85.5% |
Summary: Onaway 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 122.7%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 25.7%, and 5+ bedroom homes decreased by 85.5%.
Housing Supply in Onaway, MI
How many homes are available in Onaway, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 17 | +21.4% |
Summary: The Onaway real estate market had 17 homes for sale in May 2024, a 21.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 5 | 9 | +80.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Onaway housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 80%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Onaway, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Onaway in May 2024, the same as the previous month. Of the 4 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Onaway, MI
We’re sorry, we don't have information for this market at the moment
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