Is Marion, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Marion has remained a Seller's Market.
Key Takeaway
Marion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion, MI
How much do homes in Marion, MI cost?
Median Sold Price
$120,000
$109/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Marion have sold for 50.9% less than they did a month ago.
Summary: The median home sold price in Marion was $120,000 in March 2024, down 50.9% from last month, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $387.5K | $113K | -70.8% |
| 3 Bedrooms | $184.7K | $115.4K | -37.5% |
| 4 Bedrooms | $318K | - | N/A |
| 5+ Bedrooms | - | $299.9K | N/A |
Summary: Marion housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 70.8%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Marion | $244.5K | $120K | -50.9% |
| Marion Township | $244.5K | $120K | -50.9% |
Housing Supply in Marion, MI
How many homes are available in Marion, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 12 | -25.0% |
Summary: The Marion real estate market had 12 homes for sale in March 2024, a 25.0% 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 | 4 | 2 | -50.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 3 | 0 | -100.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Marion 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 decreased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Marion in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Marion, MI
How long does it take to sell a home in Marion, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 79 Days | 80 Days | +1.8% |
Summary: Homes in Marion had an average of 80 days on market in Mar 2024, up by 1.8% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Marion has remained consistent over time.
Summary: During March 2024, 5 homes were sold in Marion; 20% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.