Is Manistee County, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Manistee County is a buyer's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Manistee County, MI

How much do homes in Manistee County, MI cost?

Median Sold Price

$225,500

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$25,500(+12.8%)

Key Takeaway

Homes in Manistee County have sold for 12.8% more than they did a year ago.

Summary: The median home sold price in Manistee County was $225,500 in March 2024, up 12.8% from last year, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $100K$131.5K
+31.5%
2 $170K$184.5K
+8.5%
3 $212.9K$217.5K
+2.2%
4 $225K$280.5K
+24.7%
5+ $363K$480K
+32.2%

Summary: Manistee County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.5%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 24.7%, and 5+ bedroom homes increased by 32.2%.

Median Sold Price Compared To Nearby Counties

Wexford County
+26.8%
Manistee County
+12.8%
Benzie County
-17.9%

Housing Supply in Manistee County, MI

How many homes are available in Manistee County, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
96100+4.2%

Summary: The Manistee County real estate market had 100 homes for sale in March 2024, a 4.2% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 87
-12.5%
2 3026
-13.3%
3 3543
+22.9%
4 1315
+15.4%
5+ 109
-10.0%

Summary: The Manistee County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 13.3%, 3 bedroom homes increased by 22.9%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes decreased by 10%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2611-57.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manistee County, expect to pay close to the asking price. 54.5% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in Manistee County in March 2024, down by 57.7% month-over-month. Of the 11 sold homes, 27% were sold under asking, 55% were sold at asking, and 18% were sold over asking.

Days on Market for Manistee County, MI

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

Average Sale Time

Mar 2023Mar 2024CHANGE
62 Days85 Days+37.3%

Summary: Homes in Manistee County had an average of 85 days on market in Mar 2024, up by 37.3% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 11 homes were sold in Manistee County; 36% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 36% 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 20 Days Ago

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