Is Homer Township, 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, Homer Township has remained a Seller's Market.
Key Takeaway
Homer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homer Township, MI
How much do homes in Homer Township, MI cost?
Median Sold Price
$225,000
$144/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Homer Township have sold for 50% more than they did a month ago.
Summary: The median home sold price in Homer Township was $225,000 in March 2024, up 50% from last month, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $138K | $165K | +19.6% |
| 4 Bedrooms | - | $285K | N/A |
| 5+ Bedrooms | $370K | - | N/A |
Summary: Homer Township housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 19.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Homer Township | $150K | $225K | +50.0% |
| Homer | $150K | $225K | +50.0% |
Housing Supply in Homer Township, MI
How many homes are available in Homer Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 7 | -36.4% |
Summary: The Homer Township real estate market had 7 homes for sale in March 2024, a 36.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 7 | 4 | -42.9% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Homer Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 42.9%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
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 Homer Township, 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 Homer Township in March 2024, down by 60.0% month-over-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 Homer Township, MI
How long does it take to sell a home in Homer Township, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 175 Days | +261.6% |
Summary: Homes in Homer Township had an average of 175 days on market in Mar 2024, up by 261.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Homer Township has remained consistent over time.
Summary: During March 2024, 2 homes were sold in Homer Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
