Is East China, 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, 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
$307,500
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in East China have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in East China was $307,500 in March 2024, up 0.8% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $65K | N/A |
| 2 Bedrooms | $240K | $198K | -17.5% |
| 3 Bedrooms | $267K | $346.1K | +29.6% |
| 4 Bedrooms | $432.4K | $310K | -28.3% |
| 5+ Bedrooms | $370K | $465.5K | +25.8% |
Summary: East China 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 decreased by 17.5%, 3 bedroom homes increased by 29.6%, 4 bedroom homes decreased by 28.3%, and 5+ bedroom homes increased by 25.8%.
Median Sold Price Compared To Nearby Cities
| East China Township | $277.5K | $320K | +15.3% |
| East China | $305K | $307.5K | +0.8% |
| China Township | $340K | $280K | -17.6% |
Housing Supply in East China, MI
How many homes are available in East China, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 11 | +37.5% |
Summary: The East China real estate market had 11 homes for sale in March 2024, a 37.5% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 1 | 3 | +200.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The East China 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East China, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in East China in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 131 Days | 28 Days | -78.4% |
Summary: Homes in East China had an average of 28 days on market in Mar 2024, down by 78.4% compared to last year.
Breakdown of Home Sale Times
3 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 March 2024, 4 homes were sold in East China; 75% of homes were sold within 30 days, 25% 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.