Is Elk Rapids Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2022
Since last year, Elk Rapids Township has remained a Seller's Market.
Key Takeaway
Elk Rapids Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
How much do homes in Elk Rapids Township, MI cost?
Median Sold Price
$400,000
$270/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2022
Key Takeaway
Homes in Elk Rapids Township have sold for 11.1% more than they did a year ago.
Median Sold Price By Bedroom Count
| # BEDS | May 2022 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $335K | $335K | 0.0% |
| 3 Bedrooms | $395K | $400K | +1.3% |
| 4 Bedrooms | - | $1.8M | N/A |
| 5+ Bedrooms | $445K | $891.5K | +100.3% |
Median Sold Price Compared To Nearby Cities
| Elk Rapids Township | $360K | $400K | +11.1% |
| Milton Township | $499.9K | $535K | +7.0% |
How many homes are available in Elk Rapids Township, MI?
Number of Homes For Sale
| Apr 2023 | May 2023 | % |
|---|---|---|
| 8 | 11 | +37.5% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2023 | May 2023 | % |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Number of Homes Sold
| Apr 2023 | May 2023 | % |
|---|---|---|
| 0 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elk Rapids Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
How long does it take to sell a home in Elk Rapids Township, MI?
How long does it take to sell a home in Elk Rapids Township, MI?
Average Sale Time
| May 2022 | May 2023 | % |
|---|---|---|
| 31 Days | 47 Days | +50.3% |
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Elk Rapids Township are selling fast, if you're buying plan to act quickly.
