Is Imlay City, 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, Imlay City has remained a Seller's Market.
Key Takeaway
Imlay City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Imlay City, MI
How much do homes in Imlay City, MI cost?
Median Sold Price
$269,900
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Imlay City have sold for 20% more than they did a year ago.
Summary: The median home sold price in Imlay City was $269,900 in March 2024, up 20% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $74.4K | N/A |
| 2 Bedrooms | $136K | $250K | +83.8% |
| 3 Bedrooms | $224.5K | $290K | +29.2% |
| 4 Bedrooms | $275K | $310K | +12.7% |
| 5+ Bedrooms | $219.5K | $264.2K | +20.4% |
Summary: Imlay City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 83.8%, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 20.4%.
Median Sold Price Compared To Nearby Cities
| Imlay City | $225K | $269.9K | +20.0% |
| Imlay Township | $375K | $320K | -14.7% |
Housing Supply in Imlay City, MI
How many homes are available in Imlay City, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Summary: The Imlay City real estate market had 23 homes for sale in March 2024, a 21.1% increase 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 | 7 | 6 | -14.3% |
| 3 Bedrooms | 9 | 15 | +66.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Imlay City 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 decreased by 14.3%, 3 bedroom homes increased by 66.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Imlay City, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Imlay City in March 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Imlay City, MI
How long does it take to sell a home in Imlay City, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 104 Days | 54 Days | -47.8% |
Summary: Homes in Imlay City had an average of 54 days on market in Mar 2024, down by 47.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Imlay City are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Imlay City; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
