Is Prudenville, 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, Prudenville has remained a Seller's Market.
Key Takeaway
Prudenville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Prudenville, MI
How much do homes in Prudenville, MI cost?
Median Sold Price
$202,500
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Prudenville have sold for 19.1% more than they did a year ago.
Summary: The median home sold price in Prudenville was $202,500 in May 2024, up 19.1% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $86K | $152K | +76.7% |
| 2 Bedrooms | $145.5K | $152.5K | +4.8% |
| 3 Bedrooms | $185.9K | $232K | +24.8% |
| 4 Bedrooms | $190K | $257.5K | +35.5% |
| 5+ Bedrooms | $244.9K | $627.5K | +156.2% |
Summary: Prudenville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 76.7%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 24.8%, 4 bedroom homes increased by 35.5%, and 5+ bedroom homes increased by 156.2%.
Median Sold Price Compared To Nearby Cities
| Denton Township | $180K | $224.5K | +24.7% |
| Prudenville | $170K | $202.5K | +19.1% |
| Roscommon Township | $168.6K | $182.2K | +8.1% |
| Houghton Lake | $179.9K | $190K | +5.6% |
Housing Supply in Prudenville, MI
How many homes are available in Prudenville, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 66 | +32.0% |
Summary: The Prudenville real estate market had 66 homes for sale in May 2024, a 32.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 24 | +50.0% |
| 3 Bedrooms | 25 | 32 | +28.0% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Prudenville 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 increased by 50%, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Prudenville, you may be able to get a good deal. 61.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Prudenville in May 2024, up by 18.2% month-over-month. Of the 13 sold homes, 62% were sold under asking, 31% were sold at asking, and 8% were sold over asking.
Days on Market for Prudenville, MI
How long does it take to sell a home in Prudenville, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 1 Day | 46 Days | +4550.0% |
Summary: Homes in Prudenville had an average of 46 days on market in May 2024, up by 4550% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Prudenville has remained consistent over time.
Summary: During May 2024, 13 homes were sold in Prudenville; 8% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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