Is Boyne City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Boyne City is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Boyne City has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Boyne City, MI

How much do homes in Boyne City, MI cost?

Median Sold Price

$383,500

$219/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$73,500(+23.7%)

Key Takeaway

Homes in Boyne City have sold for 23.7% more than they did a year ago.

Summary: The median home sold price in Boyne City was $383,500 in February 2024, up 23.7% from last year, and the median price per square foot was $219.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $335K$205K
-38.8%
2 $217K$199.9K
-7.9%
3 $310K$382K
+23.2%
4 $350.7K$517.5K
+47.5%
5+ $425K$1.2M
+194.1%

Summary: Boyne City housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.8%, 2 bedroom homes decreased by 7.9%, 3 bedroom homes increased by 23.2%, 4 bedroom homes increased by 47.5%, and 5+ bedroom homes increased by 194.1%.

Median Sold Price Compared To Nearby Cities

Melrose Township
+87.5%
Boyne City
+23.7%

Housing Supply in Boyne City, MI

How many homes are available in Boyne City, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2826-7.1%

Summary: The Boyne City real estate market had 26 homes for sale in February 2024, a 7.1% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 76
-14.3%
3 1415
+7.1%
4 44
0.0%
5+ 31
-66.7%

Summary: The Boyne City housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
116-45.5%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Boyne City, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Boyne City in February 2024, down by 45.5% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.

Days on Market for Boyne City, MI

How long does it take to sell a home in Boyne City, MI?

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Boyne City are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 6 homes were sold in Boyne City; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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