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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bay County is a seller's market

Buyer's
Market

Difference Since October 2021

Since last year, Bay County has remained a Seller's Market.

Key Takeaway

Bay County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Bay County, MI cost?

Median Sold Price

$135,000

$101/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$13,416(+11.0%)

Key Takeaway

Homes in Bay County have sold for 11% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $42K$64K
+52.4%
2 $87K$97.5K
+12.1%
3 $132K$140K
+6.1%
4 $135K$149K
+10.4%
5+ $127K$138K
+8.7%

Median Sold Price Compared To Nearby Counties

Midland County
+14.9%
Bay County
+11.0%
Gladwin County
+10.1%
Arenac County
+9.0%
Saginaw County
+3.4%

How many homes are available in Bay County, MI?

Number of Homes For Sale

Sep 2022Oct 2022%
345325-5.8%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 55
0.0%
2 5362
+17.0%
3 180167
-7.2%
4 8872
-18.2%
5+ 1919
0.0%

Number of Homes Sold

Sep 2022Oct 2022%
12794-26.0%

Asking Price vs. Sold Price

44 Homes Were Sold
Under Asking

21 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 County, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
37 Days31 Days-16.5%

Breakdown of Home Sale Times

58 Homes Were Sold
Under 30 Days

31 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 County 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 County, MI

Bay County, MI has 325 homes on the market. The inventory of homes for sale in Bay County, MI between September 2022 and October 2022 decreased by 5.8%. In October 2022, listings were on the market for 31 days. During the same period, the median list price in this real estate market was $135,000. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: 1 bedroom properties became 52.4% more expensive, 2 bedrooms properties prices increased by 12.1%, 3 bedrooms properties prices increased by 6.1%, prices of 4 bedrooms properties went up by 10.4%, the cost of 5 bedrooms properties went up by 8.7%. Volume of homes for sale changed: 1 bedroom homes inventory did not change, 2 bedrooms homes became 17% more available, number of 3 bedrooms homes decreased by 7.2%, number of 4 bedrooms homes decreased by 18.2%, number of 5 bedrooms homes remained the same. While more than 29 listings in Bay County, MI in October 2022 were sold above asking price, there were more than 21 listings sold at asking price, and more than 44 were sold below.

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