Is Marion 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, Marion Township has remained a Seller's Market.
Key Takeaway
Marion Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion Township, MI
How much do homes in Marion Township, MI cost?
Median Sold Price
$371,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Marion Township have sold for 0.5% more than they did a year ago.
Summary: The median home sold price in Marion Township was $371,000 in March 2024, up 0.5% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $72.5K | -34.1% |
| 2 Bedrooms | $305K | $250K | -18.0% |
| 3 Bedrooms | $330K | $365K | +10.6% |
| 4 Bedrooms | $401K | $397.5K | -0.9% |
| 5+ Bedrooms | $434.9K | $455K | +4.6% |
Summary: Marion Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes decreased by 18%, 3 bedroom homes increased by 10.6%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Cities
| Genoa Township | $360K | $401.2K | +11.5% |
| Putnam Township | $310K | $340K | +9.7% |
| Howell | $330K | $353.9K | +7.3% |
| Howell Township | $334.9K | $354.4K | +5.8% |
| Marion Township | $369K | $371K | 0.5% |
Housing Supply in Marion Township, MI
How many homes are available in Marion Township, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 68 | 75 | +10.3% |
Summary: The Marion Township real estate market had 75 homes for sale in March 2024, a 10.3% increase 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 | 16 | 18 | +12.5% |
| 3 Bedrooms | 22 | 26 | +18.2% |
| 4 Bedrooms | 18 | 18 | 0.0% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Marion 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 increased by 12.5%, 3 bedroom homes increased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 17 | +13.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion Township, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Marion Township in March 2024, up by 13.3% month-over-month. Of the 17 sold homes, 47% were sold under asking, 35% were sold at asking, and 18% were sold over asking.
Days on Market for Marion Township, MI
How long does it take to sell a home in Marion Township, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 95 Days | 65 Days | -31.4% |
Summary: Homes in Marion Township had an average of 65 days on market in Mar 2024, down by 31.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Marion Township are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in Marion Township; 41% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 18% 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.