Is Bay City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Bay City has remained a Seller's Market.
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 March 2023
Summary: The median home sold price in Bay City was $130,000 in March 2024, up 18.2% from last year, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $66.5K | $55K | -17.3% |
2 Bedrooms | $86K | $112.2K | +30.5% |
3 Bedrooms | $113K | $142.7K | +26.3% |
4 Bedrooms | $124.2K | $127K | +2.2% |
5+ Bedrooms | $127.7K | $144K | +12.7% |
Summary: Bay City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.3%, 2 bedroom homes increased by 30.5%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
Bay City | $110K | $130K | +18.2% |
Bangor Charter Township | $172.4K | $178.5K | +3.5% |
Housing Supply in Bay City, MI
How many homes are available in Bay City, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
96 | 124 | +29.2% |
Summary: The Bay City real estate market had 124 homes for sale in March 2024, a 29.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 13 | 17 | +30.8% |
3 Bedrooms | 46 | 57 | +23.9% |
4 Bedrooms | 24 | 38 | +58.3% |
5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Bay City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 30.8%, 3 bedroom homes increased by 23.9%, 4 bedroom homes increased by 58.3%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 32 | +77.8% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Bay City in March 2024, up by 77.8% month-over-month. Of the 32 sold homes, 66% were sold under asking, 16% were sold at asking, and 19% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
42 Days | 54 Days | +27.4% |
Summary: Homes in Bay City had an average of 54 days on market in Mar 2024, up by 27.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 32 homes were sold in Bay City; 38% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.