Is Bitely, 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, Bitely was a Seller's Market.
Key Takeaway
Bitely is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Bitely, MI
How much do homes in Bitely, MI cost?
Median Sold Price
$129,250
$137/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bitely have sold for 0.6% less than they did a year ago.
Summary: The median home sold price in Bitely was $129,250 in March 2024, down 0.6% from last year, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $125K | +47.1% |
| 2 Bedrooms | $150K | $110K | -26.7% |
| 3 Bedrooms | $130K | $220K | +69.2% |
| 4 Bedrooms | $241K | $247.5K | +2.7% |
| 5+ Bedrooms | - | - | N/A |
Summary: Bitely housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47.1%, 2 bedroom homes decreased by 26.7%, 3 bedroom homes increased by 69.2%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lilley Township | $122.5K | $131K | +6.9% |
| Troy Township | $384.8K | $408K | +6.0% |
| Bitely | $130K | $129.2K | -0.6% |
Housing Supply in Bitely, MI
How many homes are available in Bitely, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Summary: The Bitely real estate market had 13 homes for sale in March 2024, a 44.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Bitely 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 remained the same, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bitely, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Bitely in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Bitely, MI
How long does it take to sell a home in Bitely, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 16 Days | -71.1% |
Summary: Homes in Bitely had an average of 16 days on market in Mar 2024, down by 71.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bitely are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Bitely; 100% 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.
