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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Marshall is a seller's market

Buyer's
Market

Difference Since August 2023

Since last year, Marshall has remained a Seller's Market.

Key Takeaway

Marshall is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Marshall, MI

How much do homes in Marshall, MI cost?

Median Sold Price

$241,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$31,000(+14.8%)

Key Takeaway

Homes in Marshall have sold for 14.8% more than they did a year ago.

Summary: The median home sold price in Marshall was $241,000 in August 2024, up 14.8% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 $127.5K$40K
-68.6%
2 $152K$180K
+18.4%
3 $195K$230K
+17.9%
4 $277.9K$299.5K
+7.7%
5+ $300K$420K
+40.0%

Summary: Marshall housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.6%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 40%.

Median Sold Price Compared To Nearby Cities

Fredonia Township
+36.2%
Marshall
+14.8%
Marshall Township
+13.1%

Housing Supply in Marshall, MI

How many homes are available in Marshall, MI?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
6879+16.2%

Summary: The Marshall real estate market had 79 homes for sale in August 2024, a 16.2% increase compared to July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 10
-100.0%
2 911
+22.2%
3 3235
+9.4%
4 2129
+38.1%
5+ 54
-20.0%

Summary: The Marshall housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 38.1%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
1415+7.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Marshall, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Marshall in August 2024, up by 7.1% month-over-month. Of the 15 sold homes, 40% were sold under asking, 33% were sold at asking, and 27% were sold over asking.

Days on Market for Marshall, MI

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

Average Sale Time

Aug 2023Aug 2024CHANGE
10 Days38 Days+268.6%

Summary: Homes in Marshall had an average of 38 days on market in Aug 2024, up by 268.6% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During August 2024, 15 homes were sold in Marshall; 47% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 7% 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 11 Days Ago

Newest Listings in Marshall, MI

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