Is Bessemer, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Bessemer was a Buyer's Market.
Key Takeaway
Bessemer is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bessemer, MI
How much do homes in Bessemer, MI cost?
Median Sold Price
$97,000
$102/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Bessemer have sold for 26% more than they did a month ago.
Summary: The median home sold price in Bessemer was $97,000 in May 2024, up 26% from last month, and the median price per square foot was $102.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $40K | N/A |
| 3 Bedrooms | - | $249.5K | N/A |
| 4 Bedrooms | $77K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Bessemer housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bessemer | $77K | $97K | +26.0% |
| Bessemer Township | $77K | $97K | +26.0% |
Housing Supply in Bessemer, MI
How many homes are available in Bessemer, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 15 | +66.7% |
Summary: The Bessemer real estate market had 15 homes for sale in May 2024, a 66.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bessemer housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 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 Bessemer, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Bessemer in May 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Bessemer, MI
How long does it take to sell a home in Bessemer, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 53 Days | +55.9% |
Summary: Homes in Bessemer had an average of 53 days on market in May 2024, up by 55.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Bessemer has remained consistent over time.
Summary: During May 2024, 3 homes were sold in Bessemer; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.