Is Burr Oak Township, 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, Burr Oak Township has remained a Seller's Market.
Key Takeaway
Burr Oak Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burr Oak Township, MI
How much do homes in Burr Oak Township, MI cost?
Median Sold Price
$185,000
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Burr Oak Township have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Burr Oak Township was $185,000 in March 2024, up 4.3% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | - | N/A |
| 2 Bedrooms | $127K | $160K | +26.0% |
| 3 Bedrooms | $159K | $180K | +13.2% |
| 4 Bedrooms | $212K | $172K | -18.9% |
| 5+ Bedrooms | $337.5K | $352K | +4.3% |
Summary: Burr Oak Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26%, 3 bedroom homes increased by 13.2%, 4 bedroom homes decreased by 18.9%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Sherman Township | $285K | $344.9K | +21.0% |
| Sturgis | $158.2K | $183.1K | +15.7% |
| Colon Township | $170.2K | $194.5K | +14.2% |
| Burr Oak Township | $177.4K | $185K | +4.3% |
Housing Supply in Burr Oak Township, MI
How many homes are available in Burr Oak Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Summary: The Burr Oak Township real estate market had 7 homes for sale in March 2024, a 40.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Burr Oak 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 remained the same, 3 bedroom homes increased by 200%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 5 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burr Oak Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Burr Oak Township in March 2024, up by 100.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% were sold over asking.
Days on Market for Burr Oak Township, MI
How long does it take to sell a home in Burr Oak Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 57 Days | 82 Days | +44.0% |
Summary: Homes in Burr Oak Township had an average of 82 days on market in Mar 2024, up by 44% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burr Oak Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Burr Oak Township; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% 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.