Is Jerome, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Jerome was a Seller's Market.
Housing Prices in Jerome, MI
How much do homes in Jerome, MI cost?
Median Sold Price
$274,900
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Jerome was $274,900 in March 2024, up 14.6% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $184.9K | $208K | +12.5% |
3 Bedrooms | $239.9K | $228K | -5.0% |
4 Bedrooms | $321.2K | $390K | +21.4% |
5+ Bedrooms | $355K | $467K | +31.5% |
Summary: Jerome 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 12.5%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes increased by 31.5%.
Median Sold Price Compared To Nearby Cities
Somerset Township | $239.9K | $304.5K | +26.9% |
Cement City | $231.4K | $290K | +25.3% |
Jerome | $239.9K | $274.9K | +14.6% |
Housing Supply in Jerome, MI
How many homes are available in Jerome, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 12 | -20.0% |
Summary: The Jerome real estate market had 12 homes for sale in March 2024, a 20.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 9 | 5 | -44.4% |
4 Bedrooms | 5 | 7 | +40.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Jerome housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 44.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 1 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Jerome in March 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Jerome, MI
How long does it take to sell a home in Jerome, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 6 Days | -71.4% |
Summary: Homes in Jerome had an average of 6 days on market in Mar 2024, down by 71.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in Jerome; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.