Is Bear Creek Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bear Creek Township was a Buyer's Market.
Key Takeaway
Bear Creek Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bear Creek Township, MI
How much do homes in Bear Creek Township, MI cost?
Median Sold Price
$407,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bear Creek Township have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Bear Creek Township was $407,000 in March 2024, up 16.3% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $279.9K | -13.9% |
| 2 Bedrooms | $239.9K | $270.2K | +12.6% |
| 3 Bedrooms | $357.4K | $408.5K | +14.3% |
| 4 Bedrooms | $585K | $655K | +12.0% |
| 5+ Bedrooms | $1.0M | $870K | -15.1% |
Summary: Bear Creek Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.9%, 2 bedroom homes increased by 12.6%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 12%, and 5+ bedroom homes decreased by 15.1%.
Median Sold Price Compared To Nearby Cities
| Bear Creek Township | $349.9K | $407K | +16.3% |
| Petoskey | $425K | $438.3K | +3.1% |
| Little Traverse Township | $410K | $405K | -1.2% |
| Resort Township | $580K | $480K | -17.2% |
Housing Supply in Bear Creek Township, MI
How many homes are available in Bear Creek Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 25 | +8.7% |
Summary: The Bear Creek Township real estate market had 25 homes for sale in March 2024, a 8.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Bear Creek Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 6 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Bear Creek Township, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Bear Creek Township in March 2024, up by 100.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Bear Creek Township, MI
How long does it take to sell a home in Bear Creek Township, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bear Creek Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 6 homes were sold in Bear Creek Township; 17% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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