Is Benzie County, 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, Benzie County has remained a Seller's Market.
Key Takeaway
Benzie County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Benzie County, MI
How much do homes in Benzie County, MI cost?
Median Sold Price
$332,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Benzie County have sold for 17.9% less than they did a year ago.
Summary: The median home sold price in Benzie County was $332,500 in March 2024, down 17.9% 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 | $150K | $248K | +65.3% |
| 2 Bedrooms | $265K | $295K | +11.3% |
| 3 Bedrooms | $410K | $315.2K | -23.1% |
| 4 Bedrooms | $477.5K | $435K | -8.9% |
| 5+ Bedrooms | $967.5K | $775K | -19.9% |
Summary: Benzie County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 65.3%, 2 bedroom homes increased by 11.3%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes decreased by 19.9%.
Housing Supply in Benzie County, MI
How many homes are available in Benzie County, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 61 | +56.4% |
Summary: The Benzie County real estate market had 61 homes for sale in March 2024, a 56.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 9 | +50.0% |
| 3 Bedrooms | 23 | 36 | +56.5% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 6 | 10 | +66.7% |
Summary: The Benzie County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 56.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 15 | +87.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benzie County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Benzie County in March 2024, up by 87.5% month-over-month. Of the 14 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% were sold over asking.
Days on Market for Benzie County, MI
How long does it take to sell a home in Benzie County, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 108 Days | +248.0% |
Summary: Homes in Benzie County had an average of 108 days on market in Mar 2024, up by 248% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Benzie County has remained consistent over time.
Summary: During March 2024, 15 homes were sold in Benzie County; 7% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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