Is East Bay Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, East Bay Township has remained a Seller's Market.
Key Takeaway
East Bay Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Bay Township, MI
How much do homes in East Bay Township, MI cost?
Median Sold Price
$295,500
$177/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in East Bay Township have sold for 7.6% less than they did a month ago.
Summary: The median home sold price in East Bay Township was $295,500 in March 2024, down 7.6% from last month, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $215.5K | $234.9K | +9.0% |
| 3 Bedrooms | $327.4K | $295.5K | -9.8% |
| 4 Bedrooms | $525K | $510K | -2.9% |
| 5+ Bedrooms | - | - | N/A |
Summary: East Bay Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| East Bay Township | $319.9K | $295.5K | -7.6% |
| Traverse City | $398K | $366K | -8.0% |
| Acme Township | $445K | $378K | -15.1% |
| Williamsburg | $878.8K | $371.5K | -57.7% |
Housing Supply in East Bay Township, MI
How many homes are available in East Bay Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 32 | 37 | +15.6% |
Summary: The East Bay Township real estate market had 37 homes for sale in March 2024, a 15.6% increase 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 | 9 | 11 | +22.2% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The East Bay Township 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 increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Bay Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in East Bay Township in March 2024, up by 25.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for East Bay Township, MI
How long does it take to sell a home in East Bay Township, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 63 Days | 70 Days | +10.8% |
Summary: Homes in East Bay Township had an average of 70 days on market in Mar 2024, up by 10.8% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in East Bay Township has remained consistent over time.
Summary: During March 2024, 10 homes were sold in East Bay Township; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
