Is Burton, 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, 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
$161,416
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Burton have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Burton was $161,416 in March 2024, up 7.1% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $42.2K | $33.5K | -20.7% |
| 2 Bedrooms | $100K | $98.9K | -1.1% |
| 3 Bedrooms | $166.2K | $172.9K | +4.0% |
| 4 Bedrooms | $244.9K | $230K | -6.1% |
| 5+ Bedrooms | $140K | $159K | +13.6% |
Summary: Burton housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.7%, 2 bedroom homes decreased by 1.1%, 3 bedroom homes increased by 4%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Cities
| Genesee Charter Township | $140K | $155K | +10.7% |
| Burton | $150.6K | $161.4K | +7.1% |
| Richfield Township | $229.9K | $240.4K | +4.6% |
| Flint | $74.6K | $77.9K | +4.4% |
| Davison Township | $239.9K | $240.3K | 0.2% |
Housing Supply in Burton, MI
How many homes are available in Burton, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 89 | 74 | -16.9% |
Summary: The Burton real estate market had 74 homes for sale in March 2024, a 16.9% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 23 | 22 | -4.3% |
| 3 Bedrooms | 52 | 41 | -21.2% |
| 4 Bedrooms | 11 | 7 | -36.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Burton 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 decreased by 4.3%, 3 bedroom homes decreased by 21.2%, 4 bedroom homes decreased by 36.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 23 | -30.3% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burton, you may be able to get a good deal. 65.2% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Burton in March 2024, down by 30.3% month-over-month. Of the 23 sold homes, 65% were sold under asking, 17% were sold at asking, and 17% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 163 Days | 44 Days | -72.9% |
Summary: Homes in Burton had an average of 44 days on market in Mar 2024, down by 72.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burton are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 23 homes were sold in Burton; 52% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.