Is Bay City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Bay City has remained a Seller's Market.
Key Takeaway
Bay City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bay City, MI
How much do homes in Bay City, MI cost?
Median Sold Price
$130,000
$102/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Bay City have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Bay City was $130,000 in June 2024, up 4.2% from last year, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $56K | $53.5K | -4.5% |
| 2 Bedrooms | $87.9K | $115.6K | +31.5% |
| 3 Bedrooms | $131.4K | $140K | +6.5% |
| 4 Bedrooms | $141.5K | $126K | -11.0% |
| 5+ Bedrooms | $135.5K | $162K | +19.6% |
Summary: Bay City housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 31.5%, 3 bedroom homes increased by 6.5%, 4 bedroom homes decreased by 11%, and 5+ bedroom homes increased by 19.6%.
Median Sold Price Compared To Nearby Cities
| Hampton Charter Township | $147K | $193K | +31.3% |
| Bangor Charter Township | $162.7K | $180K | +10.6% |
| Essexville | $144.5K | $156K | +8.0% |
| Bay City | $124.8K | $130K | +4.2% |
Housing Supply in Bay City, MI
How many homes are available in Bay City, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 106 | 95 | -10.4% |
Summary: The Bay City real estate market had 95 homes for sale in June 2024, a 10.4% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 16 | 17 | +6.3% |
| 3 Bedrooms | 54 | 46 | -14.8% |
| 4 Bedrooms | 25 | 24 | -4.0% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Bay City housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 34 | 25 | -26.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay City, you may be able to get a good deal. 48% of homes here sold below asking price last month.
Summary: A total of 25 homes were sold or pending in Bay City in June 2024, down by 26.5% month-over-month. Of the 25 sold homes, 48% were sold under asking, 8% were sold at asking, and 44% were sold over asking.
Days on Market for Bay City, MI
How long does it take to sell a home in Bay City, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 22 Days | 24 Days | +5.6% |
Summary: Homes in Bay City had an average of 24 days on market in Jun 2024, up by 5.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bay City are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 25 homes were sold in Bay City; 68% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.