Is East China, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, East China has remained a Seller's Market.
Key Takeaway
East China is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East China, MI
How much do homes in East China, MI cost?
Median Sold Price
$288,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in East China have sold for 14% less than they did a year ago.
Summary: The median home sold price in East China was $288,000 in June 2024, down 14% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $157K | N/A |
| 2 Bedrooms | $287.5K | $175.2K | -39.1% |
| 3 Bedrooms | $295K | $427.5K | +44.9% |
| 4 Bedrooms | $335K | $350K | +4.5% |
| 5+ Bedrooms | $370K | $550K | +48.6% |
Summary: East China housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 39.1%, 3 bedroom homes increased by 44.9%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 48.6%.
Median Sold Price Compared To Nearby Cities
| Marine City | $149.7K | $172K | +14.9% |
| Saint Clair | $241K | $250K | +3.7% |
| East China | $335K | $288K | -14.0% |
| East China Township | $330K | $255.7K | -22.5% |
Housing Supply in East China, MI
How many homes are available in East China, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 12 | 17 | +41.7% |
Summary: The East China real estate market had 17 homes for sale in June 2024, a 41.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 4 | 7 | +75.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The East China housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 75%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East China, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in East China in June 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for East China, MI
How long does it take to sell a home in East China, MI?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 28 Days | 18 Days | -34.5% |
Summary: Homes in East China had an average of 18 days on market in Jun 2024, down by 34.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East China are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 3 homes were sold in East China; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.