Is Iron County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Iron County was a Buyer's Market.
Housing Prices in Iron County, MI
How much do homes in Iron County, MI cost?
Median Sold Price
$62,500
$45/sqft
Based on all homes sold in February 2024.
Difference Since Last Month
Summary: The median home sold price in Iron County was $62,500 in February 2024, down 37.2% from last month, and the median price per square foot was $45.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $105K | $50.5K | -51.9% |
3 Bedrooms | $99.5K | $89.2K | -10.3% |
4 Bedrooms | $72.5K | $118K | +62.8% |
5+ Bedrooms | $232.5K | $55K | -76.3% |
Summary: Iron County housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 51.9%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 62.8%, and 5+ bedroom homes decreased by 76.3%.
Median Sold Price Compared To Nearby Counties
Dickinson County | $142K | $204.7K | +44.2% |
Forest County | $315K | $260K | -17.5% |
Baraga County | $98K | $72K | -26.5% |
Iron County | $99.5K | $62.5K | -37.2% |
Florence County | $202.5K | $93.5K | -53.8% |
Housing Supply in Iron County, MI
How many homes are available in Iron County, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
47 | 49 | +4.3% |
Summary: The Iron County real estate market had 49 homes for sale in February 2024, a 4.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 11 | 11 | 0.0% |
3 Bedrooms | 19 | 24 | +26.3% |
4 Bedrooms | 9 | 8 | -11.1% |
5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Iron County housing inventory by bedroom type for February 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 26.3%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Iron County in February 2024, up by 60.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.
Days on Market for Iron County, MI
How long does it take to sell a home in Iron County, MI?
Average Sale Time
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
84 Days | 53 Days | -36.3% |
Summary: Homes in Iron County had an average of 53 days on market in Feb 2024, down by 36.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 8 homes were sold in Iron County; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.