Is North East, 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, North East has remained a Seller's Market.
Housing Prices in North East, MI
How much do homes in North East, MI cost?
Median Sold Price
$59,450
$55/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North East was $59,450 in May 2024, up 17.5% from last year, and the median price per square foot was $55.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $120K | N/A |
2 Bedrooms | $38.7K | $43K | +11.1% |
3 Bedrooms | $50K | $59.5K | +19.0% |
4 Bedrooms | $65K | $78.2K | +20.4% |
5+ Bedrooms | $80K | $140K | +75.0% |
Summary: North East 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 11.1%, 3 bedroom homes increased by 19%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 75%.
Median Sold Price Compared To Nearby Neighborhoods
Krainz Woods | $37K | $50K | +35.1% |
North East | $50.6K | $59.4K | +17.5% |
Housing Supply in North East, MI
How many homes are available in North East, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
193 | 197 | +2.1% |
Summary: The North East real estate market had 197 homes for sale in May 2024, a 2.1% 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 | 34 | 32 | -5.9% |
3 Bedrooms | 125 | 129 | +3.2% |
4 Bedrooms | 24 | 25 | +4.2% |
5+ Bedrooms | 10 | 11 | +10.0% |
Summary: The North East 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 decreased by 5.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 10%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 34 | +6.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in North East in May 2024, up by 6.3% month-over-month. Of the 34 sold homes, 56% were sold under asking, 18% were sold at asking, and 26% were sold over asking.
Days on Market for North East, MI
How long does it take to sell a home in North East, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
44 Days | 34 Days | -22.6% |
Summary: Homes in North East had an average of 34 days on market in May 2024, down by 22.6% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 34 homes were sold in North East; 62% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.