Is Burton, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burton is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in Burton, MI

How much do homes in Burton, MI cost?

Median Sold Price

$161,083

$126/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$11,083(+7.4%)

Key Takeaway

Homes in Burton have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Burton was $161,083 in February 2024, up 7.4% from last year, and the median price per square foot was $126.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $42.2K$33K
-21.9%
2 $97.1K$98.4K
+1.4%
3 $167.4K$174.2K
+4.1%
4 $244.9K$234.9K
-4.1%
5+ $140K$150K
+7.1%

Summary: Burton housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.9%, 2 bedroom homes increased by 1.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes increased by 7.1%.

Median Sold Price Compared To Nearby Cities

Flint
+23.1%
Genesee Charter Township
+13.6%
Richfield Township
+12.3%
Burton
+7.4%
Davison Township
-0.7%

Housing Supply in Burton, MI

How many homes are available in Burton, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
9381-12.9%

Summary: The Burton real estate market had 81 homes for sale in February 2024, a 12.9% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 2324
+4.3%
3 5545
-18.2%
4 139
-30.8%
5+ 23
+50.0%

Summary: The Burton 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 increased by 4.3%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2829+3.6%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burton, you may be able to get a good deal. 37.9% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Burton in February 2024, up by 3.6% month-over-month. Of the 29 sold homes, 38% were sold under asking, 28% were sold at asking, and 34% were sold over asking.

Days on Market for Burton, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
72 Days31 Days-55.6%

Summary: Homes in Burton had an average of 31 days on market in Feb 2024, down by 55.6% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Burton are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 29 homes were sold in Burton; 55% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 3% 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 18 Days Ago

Newest Listings in Burton, MI

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