Is Escanaba, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Escanaba has remained a Seller's Market.
Key Takeaway
Escanaba is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Escanaba, MI
How much do homes in Escanaba, MI cost?
Median Sold Price
$165,250
$103/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Escanaba have sold for 46.2% more than they did a month ago.
Summary: The median home sold price in Escanaba was $165,250 in April 2024, up 46.2% from last month, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $122K | - | N/A |
| 3 Bedrooms | - | $159.2K | N/A |
| 4 Bedrooms | $110.2K | $235K | +113.2% |
| 5+ Bedrooms | $108K | $467K | +332.4% |
Summary: Escanaba 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 did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 113.2%, and 5+ bedroom homes increased by 332.4%.
Median Sold Price Compared To Nearby Cities
| Wells Township | $118K | $235K | +99.2% |
| Escanaba | $113K | $165.2K | +46.2% |
Housing Supply in Escanaba, MI
How many homes are available in Escanaba, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 26 | +52.9% |
Summary: The Escanaba real estate market had 26 homes for sale in April 2024, a 52.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 4 | 11 | +175.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Escanaba 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 remained the same, 3 bedroom homes increased by 175%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Escanaba, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Escanaba in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Escanaba, MI
How long does it take to sell a home in Escanaba, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 Day | 37 Days | +3675.0% |
Summary: Homes in Escanaba had an average of 37 days on market in Apr 2024, up by 3675% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Escanaba are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Escanaba; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.