Is East Jordan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, East Jordan has remained a Seller's Market.
Key Takeaway
East Jordan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Jordan, MI
How much do homes in East Jordan, MI cost?
Median Sold Price
$345,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Jordan have sold for 70.4% more than they did a year ago.
Summary: The median home sold price in East Jordan was $345,000 in April 2024, up 70.4% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $340K | +209.1% |
| 2 Bedrooms | $205K | $199.5K | -2.7% |
| 3 Bedrooms | $172K | $295.8K | +72.0% |
| 4 Bedrooms | $249.5K | $375K | +50.3% |
| 5+ Bedrooms | - | $2.2M | N/A |
Summary: East Jordan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 209.1%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes increased by 72%, 4 bedroom homes increased by 50.3%, and 5+ bedroom homes did not change.
Housing Supply in East Jordan, MI
How many homes are available in East Jordan, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 29 | 25 | -13.8% |
Summary: The East Jordan real estate market had 25 homes for sale in April 2024, a 13.8% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 5 | 2 | -60.0% |
Summary: The East Jordan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 60%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East Jordan, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in East Jordan in April 2024, down by 53.8% month-over-month. Of the 6 sold homes, 17% were sold under asking, 67% were sold at asking, and 17% were sold over asking.
Days on Market for East Jordan, MI
How long does it take to sell a home in East Jordan, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in East Jordan are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 6 homes were sold in East Jordan; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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