Is Hersey, 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, Hersey has remained a Seller's Market.
Key Takeaway
Hersey is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hersey, MI
How much do homes in Hersey, MI cost?
Median Sold Price
$165,000
$140/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Key Takeaway
The sold price of homes in Hersey has remained the same since last year.
Summary: The median home sold price in Hersey was $165,000 in March 2024, the same as last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $189.1K | +57.6% |
| 2 Bedrooms | $125K | $151.5K | +21.3% |
| 3 Bedrooms | $180K | $148.7K | -17.4% |
| 4 Bedrooms | $147K | $386.2K | +162.8% |
| 5+ Bedrooms | $396K | $390K | -1.5% |
Summary: Hersey housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.6%, 2 bedroom homes increased by 21.3%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 162.8%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Cities
| Richmond Township | $165K | $255K | +54.5% |
| Hersey | $165K | $165K | 0.0% |
| Hersey Township | $169.5K | $166K | -2.1% |
Housing Supply in Hersey, MI
How many homes are available in Hersey, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Hersey real estate market had 8 homes for sale in March 2024, a 14.3% increase 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Hersey 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 increased by 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hersey, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Hersey in March 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Hersey, MI
How long does it take to sell a home in Hersey, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 126 Days | 29 Days | -77.1% |
Summary: Homes in Hersey had an average of 29 days on market in Mar 2024, down by 77.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hersey are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in Hersey; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
