Is Porter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Porter Township was a Seller's Market.
Key Takeaway
Porter Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Porter Township, MI
How much do homes in Porter Township, MI cost?
Median Sold Price
$306,490
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Porter Township have sold for 17.2% less than they did a year ago.
Summary: The median home sold price in Porter Township was $306,490 in May 2024, down 17.2% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $375K | $367.5K | -2.0% |
| 3 Bedrooms | $370K | $254.5K | -31.2% |
| 4 Bedrooms | $387.5K | $304.9K | -21.3% |
| 5+ Bedrooms | $63.8K | - | N/A |
Summary: Porter 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 2%, 3 bedroom homes decreased by 31.2%, 4 bedroom homes decreased by 21.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lawton | $271K | $294K | +8.5% |
| Antwerp Township | $287K | $295K | +2.8% |
| Marcellus Township | $182.5K | $177.5K | -2.7% |
| Porter Township | $370K | $306.4K | -17.2% |
Housing Supply in Porter Township, MI
How many homes are available in Porter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Summary: The Porter Township real estate market had 9 homes for sale in May 2024, a 43.8% decrease 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 | 1 | 0.0% |
| 3 Bedrooms | 7 | 3 | -57.1% |
| 4 Bedrooms | 6 | 2 | -66.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Porter 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 remained the same, 3 bedroom homes decreased by 57.1%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 1 | -85.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Porter Township, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Porter Township in May 2024, down by 85.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Porter Township, MI
How long does it take to sell a home in Porter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 49 Days | +716.7% |
Summary: Homes in Porter Township had an average of 49 days on market in May 2024, up by 716.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Porter Township has remained consistent over time.
Summary: During May 2024, 1 homes were sold in Porter Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
