Is Hemlock, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hemlock is a seller's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Hemlock was a Buyer's Market.

Key Takeaway

Hemlock is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Hemlock, MI

How much do homes in Hemlock, MI cost?

Median Sold Price

$178,500

$121/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$13,500(+8.2%)

Key Takeaway

Homes in Hemlock have sold for 8.2% more than they did a year ago.

Summary: The median home sold price in Hemlock was $178,500 in January 2024, up 8.2% from last year, and the median price per square foot was $121.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 --
N/A
2 $111K$121K
+9.0%
3 $177.2K$176.2K
-0.6%
4 $180K$222.5K
+23.6%
5+ -$567.5K
N/A

Summary: Hemlock housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes increased by 23.6%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Fremont Township
+15.2%
Hemlock
+8.2%
Thomas Township
+5.7%
Richland Township
-2.5%

Housing Supply in Hemlock, MI

How many homes are available in Hemlock, MI?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
911+22.2%

Summary: The Hemlock real estate market had 11 homes for sale in January 2024, a 22.2% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 11
0.0%
3 46
+50.0%
4 44
0.0%
5+ 00
0.0%

Summary: The Hemlock housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
43-25.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hemlock, 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 Hemlock in January 2024, down by 25.0% 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 Hemlock, MI

How long does it take to sell a home in Hemlock, MI?

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hemlock are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 3 homes were sold in Hemlock; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in Hemlock, MI

Nearby Markets to Hemlock, MI

What housing markets are near Hemlock, MI?