Is Mancelona Township, 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 Township has remained a Seller's Market.
Key Takeaway
Mancelona Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mancelona Township, MI
How much do homes in Mancelona Township, MI cost?
Median Sold Price
$199,500
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mancelona Township have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Mancelona Township was $199,500 in March 2024, up 10.5% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $63.7K | -42.0% |
| 2 Bedrooms | $226K | $145K | -35.8% |
| 3 Bedrooms | $185K | $217.2K | +17.4% |
| 4 Bedrooms | $162K | $235K | +45.1% |
| 5+ Bedrooms | $465K | $495K | +6.5% |
Summary: Mancelona Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 42%, 2 bedroom homes decreased by 35.8%, 3 bedroom homes increased by 17.4%, 4 bedroom homes increased by 45.1%, and 5+ bedroom homes increased by 6.5%.
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 Township, MI
How many homes are available in Mancelona Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Summary: The Mancelona Township real estate market had 21 homes for sale in March 2024, a 8.7% 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 | 11 | 10 | -9.1% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Mancelona Township 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 9.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 66.7%.
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 Township, 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 Township 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 Township, MI
How long does it take to sell a home in Mancelona Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 63 Days | +69.6% |
Summary: Homes in Mancelona Township 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 Township has remained consistent over time.
Summary: During March 2024, 6 homes were sold in Mancelona Township; 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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