Is Bay City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bay City is a seller's market

Buyer's
Market

Difference Since February 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

$128,666

$104/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,916(+18.3%)

Key Takeaway

Homes in Bay City have sold for 18.3% more than they did a year ago.

Summary: The median home sold price in Bay City was $128,666 in February 2024, up 18.3% from last year, and the median price per square foot was $104.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $68K$55K
-19.1%
2 $86K$99.9K
+16.2%
3 $102.5K$145K
+41.5%
4 $121K$136K
+12.4%
5+ $135.5K$140K
+3.3%

Summary: Bay City housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 19.1%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 41.5%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Bay City
+18.3%
Essexville
+11.8%
Bangor Charter Township
+5.9%

Housing Supply in Bay City, MI

How many homes are available in Bay City, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
185189+2.2%

Summary: The Bay City real estate market had 189 homes for sale in February 2024, a 2.2% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 34
+33.3%
2 3334
+3.0%
3 9490
-4.3%
4 3745
+21.6%
5+ 1816
-11.1%

Summary: The Bay City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 3%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 21.6%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4548+6.7%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

13 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bay City, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.

Summary: A total of 48 homes were sold or pending in Bay City in February 2024, up by 6.7% month-over-month. Of the 48 sold homes, 52% were sold under asking, 27% were sold at asking, and 21% 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

Feb 2023Feb 2024CHANGE
44 Days38 Days-13.4%

Summary: Homes in Bay City had an average of 38 days on market in Feb 2024, down by 13.4% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bay City are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 48 homes were sold in Bay City; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 2 Days Ago

Newest Listings in Bay City, MI

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