Is Petersburg, 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, Petersburg has remained a Seller's Market.
Housing Prices in Petersburg, MI
How much do homes in Petersburg, MI cost?
Median Sold Price
$251,000
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Petersburg was $251,000 in April 2024, up 16.7% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $107.5K | - | N/A |
2 Bedrooms | $151K | $207K | +37.1% |
3 Bedrooms | $215.1K | $250K | +16.2% |
4 Bedrooms | $250K | $370K | +48.0% |
5+ Bedrooms | $547.4K | - | N/A |
Summary: Petersburg 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 37.1%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 48%, and 5+ bedroom homes did not change.
Housing Supply in Petersburg, MI
How many homes are available in Petersburg, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Summary: The Petersburg real estate market had 15 homes for sale in April 2024, a 15.4% increase 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 | 3 | 1 | -66.7% |
3 Bedrooms | 6 | 8 | +33.3% |
4 Bedrooms | 4 | 6 | +50.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Petersburg 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 decreased by 66.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Petersburg in April 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Petersburg, MI
How long does it take to sell a home in Petersburg, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 23 Days | +195.8% |
Summary: Homes in Petersburg had an average of 23 days on market in Apr 2024, up by 195.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Petersburg; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.