Is Milan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Milan has remained a Seller's Market.
Housing Prices in Milan, MI
How much do homes in Milan, MI cost?
Median Sold Price
$295,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Milan was $295,000 in April 2024, up 15% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $128.2K | - | N/A |
2 Bedrooms | $167.5K | $226K | +34.9% |
3 Bedrooms | $257.7K | $294K | +14.1% |
4 Bedrooms | $313.5K | $355K | +13.2% |
5+ Bedrooms | $420K | $405K | -3.6% |
Summary: Milan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 34.9%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes decreased by 3.6%.
Median Sold Price Compared To Nearby Cities
Milan | $256.5K | $295K | +15.0% |
Milan Township | $259.9K | $295K | +13.5% |
York Charter Township | $514.3K | $552.5K | +7.4% |
Housing Supply in Milan, MI
How many homes are available in Milan, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 22 | -4.3% |
Summary: The Milan real estate market had 22 homes for sale in April 2024, a 4.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 18 | 17 | -5.6% |
4 Bedrooms | 5 | 4 | -20.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Milan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 13 | +116.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Milan in April 2024, up by 116.7% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Milan, MI
How long does it take to sell a home in Milan, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
59 Days | 44 Days | -25.1% |
Summary: Homes in Milan had an average of 44 days on market in Apr 2024, down by 25.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 13 homes were sold in Milan; 62% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.