Is Arenac County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Arenac County was a Seller's Market.
Key Takeaway
Arenac County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Arenac County, MI
How much do homes in Arenac County, MI cost?
Median Sold Price
$160,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Arenac County have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Arenac County was $160,000 in June 2024, up 11.1% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $100K | -27.3% |
| 2 Bedrooms | $94K | $130K | +38.3% |
| 3 Bedrooms | $153K | $190K | +24.2% |
| 4 Bedrooms | $317K | $237.5K | -25.1% |
| 5+ Bedrooms | $28K | $225K | +703.6% |
Summary: Arenac County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 27.3%, 2 bedroom homes increased by 38.3%, 3 bedroom homes increased by 24.2%, 4 bedroom homes decreased by 25.1%, and 5+ bedroom homes increased by 703.6%.
Median Sold Price Compared To Nearby Counties
| Iosco County | $145K | $169.2K | +16.7% |
| Arenac County | $144K | $160K | +11.1% |
| Ogemaw County | $149.9K | $150K | 0.1% |
Housing Supply in Arenac County, MI
How many homes are available in Arenac County, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 56 | 76 | +35.7% |
Summary: The Arenac County real estate market had 76 homes for sale in June 2024, a 35.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 14 | 22 | +57.1% |
| 3 Bedrooms | 27 | 37 | +37.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Arenac County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 37%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Arenac County, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Arenac County in June 2024, up by 28.6% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% were sold over asking.
Days on Market for Arenac County, MI
How long does it take to sell a home in Arenac County, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 86 Days | 56 Days | -34.0% |
Summary: Homes in Arenac County had an average of 56 days on market in Jun 2024, down by 34% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Arenac County has remained consistent over time.
Summary: During June 2024, 9 homes were sold in Arenac County; 33% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
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