Is Elk Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Elk Township was a Neutral Market.
Housing Prices in Elk Township, MI
How much do homes in Elk Township, MI cost?
Median Sold Price
$166,500
$171/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Summary: The median home sold price in Elk Township was $166,500 in April 2024, up 24.5% from last month, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $122K | N/A |
2 Bedrooms | $205.9K | $166.5K | -19.1% |
3 Bedrooms | $61.5K | $440K | +615.4% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Elk Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.1%, 3 bedroom homes increased by 615.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Elk Township, MI
How many homes are available in Elk Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 17 | +21.4% |
Summary: The Elk Township real estate market had 17 homes for sale in April 2024, a 21.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 8 | 11 | +37.5% |
3 Bedrooms | 4 | 4 | 0.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Elk Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 37.5%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 7 | +250.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Elk Township in April 2024, up by 250.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 43% were sold at asking, and 14% were sold over asking.
Days on Market for Elk Township, MI
How long does it take to sell a home in Elk Township, MI?
Average Sale Time
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
95 Days | 55 Days | -41.8% |
Summary: Homes in Elk Township had an average of 55 days on market in Apr 2024, down by 41.8% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Elk Township; 57% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.