Is Arenac County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Arenac County was a Buyer's Market.
Key Takeaway
Arenac County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Arenac County, MI
How much do homes in Arenac County, MI cost?
Median Sold Price
$175,000
$123/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Arenac County have sold for 41.7% less than they did a month ago.
Summary: The median home sold price in Arenac County was $175,000 in March 2024, down 41.7% from last month, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $179K | $134K | -25.1% |
| 3 Bedrooms | - | $174.2K | N/A |
| 4 Bedrooms | $409K | $217.5K | -46.8% |
| 5+ Bedrooms | - | - | N/A |
Summary: Arenac County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 25.1%, 3 bedroom homes did not change, 4 bedroom homes decreased by 46.8%, and 5+ bedroom homes did not change.
Housing Supply in Arenac County, MI
How many homes are available in Arenac County, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 49 | 60 | +22.4% |
Summary: The Arenac County real estate market had 60 homes for sale in March 2024, a 22.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 18 | 22 | +22.2% |
| 3 Bedrooms | 16 | 22 | +37.5% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Arenac County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 37.5%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 13 | +333.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Arenac County, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Arenac County in March 2024, up by 333.3% month-over-month. Of the 13 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 83 Days | 77 Days | -7.6% |
Summary: Homes in Arenac County had an average of 77 days on market in Mar 2024, down by 7.6% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Arenac County has remained consistent over time.
Summary: During March 2024, 13 homes were sold in Arenac County; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
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