Is Emmet County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Emmet County is a seller's market

Buyer's
Market

Difference Since August 2021

Since last year, Emmet County has remained a Seller's Market.

Key Takeaway

Emmet County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Emmet County, MI cost?

Median Sold Price

$368,350

$203/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2021

+$58,375(+18.8%)

Key Takeaway

Homes in Emmet County have sold for 18.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $161.2K$172.7K
+7.1%
2 $220K$250K
+13.6%
3 $298.2K$349.9K
+17.3%
4 $430K$539K
+25.3%
5+ $777.5K$890K
+14.5%

Median Sold Price Compared To Nearby Counties

Emmet County
+18.8%
Charlevoix County
+12.7%
Cheboygan County
+10.1%

How many homes are available in Emmet County, MI?

Number of Homes For Sale

Jul 2022Aug 2022%
284277-2.5%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 117
-36.4%
2 3542
+20.0%
3 126123
-2.4%
4 7267
-6.9%
5+ 4038
-5.0%

Number of Homes Sold

Jul 2022Aug 2022%
7867-14.1%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

27 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Emmet County, you could pay more than the asking price. 40.3% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
37 Days90 Days+138.9%

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

Breakdown of Home Sale Times

Key Takeaway

Most homes in Emmet County are taking a long time to sell, it's a good idea to negotiate on homes here.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Emmet County, MI

There are 277 homes are for sale in Emmet County, MI real estate market. Between July 2022 and August 2022, Emmet County, MI real estate market has seen decrease in the number of listings by 2.5%. While the average time on the market in August 2022 was 90 days, the median list price was $368,350. From July 2022 through August 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties increased by 7.1%, prices of 2 bedrooms properties went up by 13.6%, prices of 3 bedrooms properties increased by 17.3%, prices of 4 bedrooms properties went up by 25.3%, the cost of 5 bedrooms properties went up by 14.5%. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes decreased by 36.4%, number of 2 bedrooms homes increased by 20%, volume of 3 bedrooms homes went down by 2.4%, 4 bedrooms homes became 6.9% less available, 5 bedrooms homes became 5% less available. In August 2022 more than 27 listings in Emmet County, MI were sold above the asking price. During the same period more than 15 listings were sold at asking price, while more than 25 were sold below.

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