Is Mancelona, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Mancelona has remained a Seller's Market.
Key Takeaway
Mancelona is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mancelona, MI
How much do homes in Mancelona, MI cost?
Median Sold Price
$194,900
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mancelona have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Mancelona was $194,900 in March 2024, up 8.1% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | $63.7K | -44.6% |
| 2 Bedrooms | $178K | $145K | -18.5% |
| 3 Bedrooms | $199K | $219.4K | +10.3% |
| 4 Bedrooms | $167K | $237.5K | +42.2% |
| 5+ Bedrooms | $230K | $465K | +102.2% |
Summary: Mancelona housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 44.6%, 2 bedroom homes decreased by 18.5%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 42.2%, and 5+ bedroom homes increased by 102.2%.
Median Sold Price Compared To Nearby Cities
| Mancelona Township | $180.5K | $199.5K | +10.5% |
| Mancelona | $180.2K | $194.9K | +8.1% |
Housing Supply in Mancelona, MI
How many homes are available in Mancelona, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 19 | -9.5% |
Summary: The Mancelona real estate market had 19 homes for sale in March 2024, a 9.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The Mancelona 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 10%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 6 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mancelona, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Mancelona in March 2024, up by 50.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Mancelona, MI
How long does it take to sell a home in Mancelona, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 63 Days | +69.6% |
Summary: Homes in Mancelona had an average of 63 days on market in Mar 2024, up by 69.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mancelona has remained consistent over time.
Summary: During March 2024, 6 homes were sold in Mancelona; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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