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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Manchester is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Manchester was a Seller's Market.

Key Takeaway

Manchester is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Manchester, MI

How much do homes in Manchester, MI cost?

Median Sold Price

$330,000

$169/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$55,100(+20.0%)

Key Takeaway

Homes in Manchester have sold for 20% more than they did a year ago.

Summary: The median home sold price in Manchester was $330,000 in February 2024, up 20% from last year, and the median price per square foot was $169.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $157.4K$160.5K
+1.9%
3 $267.9K$307.5K
+14.8%
4 $359.9K$349.9K
-2.8%
5+ $352K$452.5K
+28.6%

Summary: Manchester 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 1.9%, 3 bedroom homes increased by 14.8%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 28.6%.

Median Sold Price Compared To Nearby Cities

Manchester
+20.0%
Manchester Township
+15.2%

Housing Supply in Manchester, MI

How many homes are available in Manchester, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1516+6.7%

Summary: The Manchester real estate market had 16 homes for sale in February 2024, a 6.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 66
0.0%
4 66
0.0%
5+ 11
0.0%

Summary: The Manchester 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 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manchester, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Manchester in February 2024, down by 75.0% 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 Manchester, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
32 Days181 Days+465.6%

Summary: Homes in Manchester had an average of 181 days on market in Feb 2024, up by 465.6% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Manchester are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 1 homes were sold in Manchester; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 27 Days Ago

Newest Listings in Manchester, MI

Nearby Markets to Manchester, MI

What housing markets are near Manchester, MI?