Is Peninsula Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Peninsula Township was a Neutral Market.
Housing Prices in Peninsula Township, MI
How much do homes in Peninsula Township, MI cost?
Median Sold Price
$975,000
$325/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Peninsula Township was $975,000 in April 2024, up 11.4% from last year, and the median price per square foot was $325.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $291K | N/A |
2 Bedrooms | $791.7K | $602.5K | -23.9% |
3 Bedrooms | $1.1M | $792K | -28.0% |
4 Bedrooms | $795K | $1.2M | +55.3% |
5+ Bedrooms | $811.2K | $2.0M | +154.9% |
Summary: Peninsula Township 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 decreased by 23.9%, 3 bedroom homes decreased by 28%, 4 bedroom homes increased by 55.3%, and 5+ bedroom homes increased by 154.9%.
Median Sold Price Compared To Nearby Cities
Peninsula Township | $875K | $975K | +11.4% |
Traverse City | $385K | $424K | +10.1% |
Housing Supply in Peninsula Township, MI
How many homes are available in Peninsula Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 38 | +40.7% |
Summary: The Peninsula Township real estate market had 38 homes for sale in April 2024, a 40.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 6 | +20.0% |
3 Bedrooms | 9 | 13 | +44.4% |
4 Bedrooms | 9 | 15 | +66.7% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Peninsula Township 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 20%, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 8 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Peninsula Township in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Peninsula Township, MI
How long does it take to sell a home in Peninsula Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
114 Days | 90 Days | -20.9% |
Summary: Homes in Peninsula Township had an average of 90 days on market in Apr 2024, down by 20.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Peninsula Township; 13% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.