Is Essex 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, Essex Township has remained a Seller's Market.
Key Takeaway
Essex Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Essex Township, MI
How much do homes in Essex Township, MI cost?
Median Sold Price
$249,900
$136/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Essex Township have sold for 77.9% more than they did a year ago.
Summary: The median home sold price in Essex Township was $249,900 in March 2024, up 77.9% 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 | - | - | N/A |
| 2 Bedrooms | $85K | $145K | +70.6% |
| 3 Bedrooms | $140.5K | $264.9K | +88.6% |
| 4 Bedrooms | $200K | $218.4K | +9.2% |
| 5+ Bedrooms | - | $180K | N/A |
Summary: Essex Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 70.6%, 3 bedroom homes increased by 88.6%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Maple Rapids | $94.5K | $176.9K | +87.2% |
| Essex Township | $140.5K | $249.9K | +77.9% |
Housing Supply in Essex Township, MI
How many homes are available in Essex Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Summary: The Essex Township real estate market had 3 homes for sale in March 2024, a 40.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Essex 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 remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Essex Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Essex Township in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Essex Township, MI
How long does it take to sell a home in Essex Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 97 Days | 1 Day | -99.0% |
Summary: Homes in Essex Township had an average of 1 days on market in Mar 2024, down by 99% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Essex Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Essex Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.