Is Irons, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Irons is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Irons was a Buyer's Market.

Key Takeaway

Irons is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Irons, MI

How much do homes in Irons, MI cost?

Median Sold Price

$166,250

$149/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$3,650(-2.1%)

Key Takeaway

Homes in Irons have sold for 2.1% less than they did a year ago.

Summary: The median home sold price in Irons was $166,250 in February 2024, down 2.1% from last year, and the median price per square foot was $149.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $150K$93K
-38.0%
2 $125K$135K
+8.0%
3 $200K$229K
+14.5%
4 $390K$365K
-6.4%
5+ $219.5K$640K
+191.6%

Summary: Irons housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 14.5%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 191.6%.

Median Sold Price Compared To Nearby Cities

Norman Township
+48.0%
Irons
-2.1%

Housing Supply in Irons, MI

How many homes are available in Irons, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2018-10.0%

Summary: The Irons real estate market had 18 homes for sale in February 2024, a 10.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 42
-50.0%
2 57
+40.0%
3 86
-25.0%
4 22
0.0%
5+ 11
0.0%

Summary: The Irons housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
330.0%

Asking Price vs. Sold Price

1 Home Was 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 Irons, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Irons in February 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Irons, MI

How long does it take to sell a home in Irons, MI?

Average Sale Time

Feb 2023Feb 2024CHANGE
141 Days33 Days-76.6%

Summary: Homes in Irons had an average of 33 days on market in Feb 2024, down by 76.6% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Irons are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 3 homes were sold in Irons; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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 28 Days Ago

Newest Listings in Irons, MI

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