$7,719 Closing Credit*
$650,000
2,632 SqFt
4 Beds
•2 Full Baths, 1 Partial
Darby Kolano, Listing Office: The Charles Reinhart Company
Is Manchester, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Manchester has remained a Seller's Market.
Key Takeaway
Manchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manchester, MI
How much do homes in Manchester, MI cost?
Median Sold Price
$350,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$50,100(+16.7%)
Key Takeaway
Homes in Manchester have sold for 16.7% more than they did a year ago.
Summary: The median home sold price in Manchester was $350,000 in August 2024, up 16.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $165K | $160K | -3.0% |
| 3 Bedrooms | $300.4K | $350K | +16.5% |
| 4 Bedrooms | $361.4K | $552.5K | +52.9% |
| 5+ Bedrooms | $496K | $275K | -44.6% |
Summary: Manchester housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 16.5%, 4 bedroom homes increased by 52.9%, and 5+ bedroom homes decreased by 44.6%.
Median Sold Price Compared To Nearby Cities
| Manchester Township | $295K | $350K | +18.6% |
| Manchester | $299.9K | $350K | +16.7% |
Housing Supply in Manchester, MI
How many homes are available in Manchester, MI?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 32 | 28 | -12.5% |
Summary: The Manchester real estate market had 28 homes for sale in August 2024, a 12.5% decrease compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 14 | 9 | -35.7% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Manchester housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 35.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 13 | 5 | -61.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Manchester in August 2024, down by 61.5% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% 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
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 41 Days | 67 Days | +63.4% |
Summary: Homes in Manchester had an average of 67 days on market in Aug 2024, up by 63.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Manchester are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 5 homes were sold in Manchester; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
