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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Macomb is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Macomb has remained a Seller's Market.

Key Takeaway

Macomb is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Macomb, MI

How much do homes in Macomb, MI cost?

Median Sold Price

$420,000

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$5,866(+1.4%)

Key Takeaway

Homes in Macomb have sold for 1.4% more than they did a year ago.

Summary: The median home sold price in Macomb was $420,000 in February 2024, up 1.4% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $259.6K$260K
0.1%
3 $388.3K$385K
-0.9%
4 $477.5K$503K
+5.3%
5+ $517.5K$530K
+2.4%

Summary: Macomb housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.1%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 2.4%.

Median Sold Price Compared To Nearby Cities

Shelby Charter Township
+3.4%
Macomb
+1.4%
Macomb Township
+1.4%
Clinton Charter Township
-0.3%
Clinton Township
-0.6%

Housing Supply in Macomb, MI

How many homes are available in Macomb, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
160179+11.9%

Summary: The Macomb real estate market had 179 homes for sale in February 2024, a 11.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 2021
+5.0%
3 5569
+25.5%
4 7981
+2.5%
5+ 68
+33.3%

Summary: The Macomb 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 increased by 5%, 3 bedroom homes increased by 25.5%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3334+3.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Macomb, you may be able to get a good deal. 55.9% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Macomb in February 2024, up by 3.0% month-over-month. Of the 34 sold homes, 56% were sold under asking, 12% were sold at asking, and 32% were sold over asking.

Days on Market for Macomb, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
40 Days38 Days-3.4%

Summary: Homes in Macomb had an average of 38 days on market in Feb 2024, down by 3.4% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 34 homes were sold in Macomb; 71% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% 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 3 Days Ago

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