Is Forest Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Forest Township has remained a Seller's Market.
Housing Prices in Forest Township, MI
How much do homes in Forest Township, MI cost?
Median Sold Price
$179,025
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Forest Township was $179,025 in June 2024, down 2.2% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $325K | N/A |
2 Bedrooms | $150.5K | $140K | -7.0% |
3 Bedrooms | $165K | $179.9K | +9.0% |
4 Bedrooms | $212K | $292K | +37.7% |
5+ Bedrooms | $359K | $272.7K | -24.0% |
Summary: Forest Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 37.7%, and 5+ bedroom homes decreased by 24%.
Median Sold Price Compared To Nearby Cities
Marathon Township | $210K | $248.2K | +18.2% |
Otter Lake | $218.5K | $237K | +8.5% |
Otisville | $180K | $182.9K | +1.6% |
Forest Township | $183K | $179K | -2.2% |
Millington Township | $184.9K | $180K | -2.7% |
Housing Supply in Forest Township, MI
How many homes are available in Forest Township, MI?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
15 | 10 | -33.3% |
Summary: The Forest Township real estate market had 10 homes for sale in June 2024, a 33.3% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 7 | 5 | -28.6% |
4 Bedrooms | 4 | 2 | -50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Forest Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
7 | 2 | -71.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Forest Township in June 2024, down by 71.4% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Forest Township, MI
How long does it take to sell a home in Forest Township, MI?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
19 Days | 11 Days | -42.1% |
Summary: Homes in Forest Township had an average of 11 days on market in Jun 2024, down by 42.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During June 2024, 2 homes were sold in Forest 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.