Is Erie Township, 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, Erie Township has remained a Seller's Market.
Key Takeaway
Erie Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Erie Township, MI
How much do homes in Erie Township, MI cost?
Median Sold Price
$198,500
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Erie Township have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Erie Township was $198,500 in March 2024, up 3.1% from last year, and the median price per square foot was $136.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $37.5K | $185K | +393.3% |
| 2 Bedrooms | $160K | $122.5K | -23.4% |
| 3 Bedrooms | $192.5K | $217.4K | +13.0% |
| 4 Bedrooms | $250K | $250K | 0.0% |
| 5+ Bedrooms | $153.5K | - | N/A |
Summary: Erie Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 393.3%, 2 bedroom homes decreased by 23.4%, 3 bedroom homes increased by 13%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Erie | $191.2K | $205K | +7.2% |
| Erie Township | $192.5K | $198.5K | +3.1% |
| Luna Pier | $160K | $162.5K | +1.6% |
| Washington Township | $175K | $175K | 0.0% |
| Temperance | $259.5K | $255K | -1.7% |
Housing Supply in Erie Township, MI
How many homes are available in Erie Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The Erie Township real estate market had 10 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 6 | 8 | +33.3% |
| 4 Bedrooms | 1 | 0 | -100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Erie Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Erie Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Erie Township in March 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Erie Township, MI
How long does it take to sell a home in Erie Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 72 Days | 27 Days | -62.0% |
Summary: Homes in Erie Township had an average of 27 days on market in Mar 2024, down by 62% compared to last year.
Breakdown of Home Sale Times
2 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 Erie Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Erie Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
