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 June 2021

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.

How much do homes in Bay City, MI cost?

Median Sold Price

$90,303

$70/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

+$10,403(+13.0%)

Key Takeaway

Homes in Bay City have sold for 13% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 $183K$49K
-73.2%
2 $67.4K$74K
+9.7%
3 $78.8K$90K
+14.1%
4 $87.5K$112.5K
+28.6%
5+ $117K$120K
+2.6%

Median Sold Price Compared To Nearby Cities

Monitor Charter Township
+19.5%
Bay City
+13.0%
Essexville
+1.5%

How many homes are available in Bay City, MI?

Number of Homes For Sale

May 2022Jun 2022%
138155+12.3%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 35
+66.7%
2 3030
0.0%
3 5766
+15.8%
4 3845
+18.4%
5+ 109
-10.0%

Number of Homes Sold

May 2022Jun 2022%
4655+19.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bay City, you could pay more than the asking price. 53.7% of homes here sold above asking price last month.

Average Sale Time

Jun 2021Jun 2022%
69 Days28 Days-58.8%

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 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.

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

About Bay City, MI

Number of homes for sale in Bay City, MI real estate market have reached 155. Between May 2022 and June 2022, Bay City, MI real estate market has seen increase in the number of listings by 12.3%. While the average time on the market in June 2022 was 28 days, the median list price was $90,303. Between May 2022 and June 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties decreased by 73.2%, the cost of 2 bedrooms properties went up by 9.7%, prices of 3 bedrooms properties went up by 14.1%, prices of 4 bedrooms properties increased by 28.6%, the cost of 5 bedrooms properties went up by 2.6%. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went up by 66.7%, volume of 2 bedrooms homes stayed the same, the quantity of 3 bedrooms homes went up by 15.8%, 4 bedrooms homes became 18.4% more available, 5 bedrooms homes inventory decreased by 10%. In June 2022, from all listings sold in Bay City, MI there were more than 29 sold above asking price, over 13 sold below and more than 12 were sold right at the asked price.

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