Is Abbot, 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, Abbot has remained a Seller's Market.
Key Takeaway
Abbot is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Abbot, MI
How much do homes in Abbot, MI cost?
Median Sold Price
$483,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Abbot have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Abbot was $483,000 in April 2024, up 7.3% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $316K | $322.5K | +2.1% |
| 3 Bedrooms | $370.5K | $422.5K | +14.0% |
| 4 Bedrooms | $513K | $567.5K | +10.6% |
| 5+ Bedrooms | $800K | $572.5K | -28.4% |
Summary: Abbot 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 2.1%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes decreased by 28.4%.
Median Sold Price Compared To Nearby Neighborhoods
| West | $430K | $470K | +9.3% |
| Abbot | $450K | $483K | +7.3% |
| Dexter-Miller | $420K | $418.5K | -0.4% |
Housing Supply in Abbot, MI
How many homes are available in Abbot, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 12 | +33.3% |
Summary: The Abbot real estate market had 12 homes for sale in April 2024, a 33.3% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Abbot 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Abbot, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Abbot in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Abbot, MI
How long does it take to sell a home in Abbot, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 10 Days | 37 Days | +258.1% |
Summary: Homes in Abbot had an average of 37 days on market in Apr 2024, up by 258.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Abbot has remained consistent over time.
Summary: During April 2024, 5 homes were sold in Abbot; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
