Is Gogebic County, 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, Gogebic County has remained a Seller's Market.
Housing Prices in Gogebic County, MI
How much do homes in Gogebic County, MI cost?
Median Sold Price
$84,900
$103/sqft
Based on all homes sold in February 2024.
Difference Since Last Month
Summary: The median home sold price in Gogebic County was $84,900 in February 2024, down 10.6% from last month, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $130K | $40K | -69.2% |
2 Bedrooms | $95K | $105.7K | +11.3% |
3 Bedrooms | $83.5K | $122K | +46.1% |
4 Bedrooms | $100K | $225K | +125.0% |
5+ Bedrooms | - | - | N/A |
Summary: Gogebic County housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 69.2%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 46.1%, 4 bedroom homes increased by 125%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
Ontonagon County | $112.5K | $153K | +36.0% |
Gogebic County | $95K | $84.9K | -10.6% |
Iron County | $99.5K | $62.5K | -37.2% |
Iron County | $305.5K | $111K | -63.7% |
Housing Supply in Gogebic County, MI
How many homes are available in Gogebic County, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
45 | 49 | +8.9% |
Summary: The Gogebic County real estate market had 49 homes for sale in February 2024, a 8.9% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 8 | 5 | -37.5% |
3 Bedrooms | 22 | 25 | +13.6% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Gogebic County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 37.5%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
11 | 11 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Gogebic County in February 2024, the same as the previous month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for Gogebic County, MI
How long does it take to sell a home in Gogebic County, MI?
Average Sale Time
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
38 Days | 55 Days | +42.4% |
Summary: Homes in Gogebic County had an average of 55 days on market in Feb 2024, up by 42.4% compared to last month.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During February 2024, 11 homes were sold in Gogebic County; 36% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.