Is Bay City, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 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
$128,666
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $68K | $55K | -19.1% |
2 Bedrooms | $86K | $99.9K | +16.2% |
3 Bedrooms | $102.5K | $145K | +41.5% |
4 Bedrooms | $121K | $136K | +12.4% |
5+ Bedrooms | $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 | $108.7K | $128.6K | +18.3% |
Essexville | $131.5K | $147K | +11.8% |
Bangor Charter Township | $170K | $180K | +5.9% |
Housing Supply in Bay City, MI
How many homes are available in Bay City, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
185 | 189 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 33 | 34 | +3.0% |
3 Bedrooms | 94 | 90 | -4.3% |
4 Bedrooms | 37 | 45 | +21.6% |
5+ Bedrooms | 18 | 16 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
45 | 48 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
44 Days | 38 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
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.