Is Imlay City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Imlay City is a 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

+$44,900(+20.0%)

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

# BEDSMar 2023Mar 2024CHANGE
1 -$74.4K
N/A
2 $136K$250K
+83.8%
3 $224.5K$290K
+29.2%
4 $275K$310K
+12.7%
5+ $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
+20.0%
Imlay Township
-14.7%

Housing Supply in Imlay City, MI

How many homes are available in Imlay City, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1923+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

# BEDSFeb 2024Mar 2024CHANGE
1 10
-100.0%
2 76
-14.3%
3 915
+66.7%
4 22
0.0%
5+ 00
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 2024Mar 2024CHANGE
550.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 2023Mar 2024CHANGE
104 Days54 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

Breakdown of Home Sale Times

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.

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

Report Updated 12 Days Ago

Newest Listings in Imlay City, MI

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