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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mecosta is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Mecosta was a Neutral Market.

Key Takeaway

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

Housing Prices in Mecosta, MI

How much do homes in Mecosta, MI cost?

Median Sold Price

$170,000

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$12,000(+7.6%)

Key Takeaway

Homes in Mecosta have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Mecosta was $170,000 in January 2024, up 7.6% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $142K$69K
-51.4%
2 $179.9K$160.6K
-10.7%
3 $116K$275K
+137.1%
4 $165K$169K
+2.4%
5+ -$550K
N/A

Summary: Mecosta housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 51.4%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes increased by 137.1%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Mecosta
+7.6%
Morton Township
+2.1%

Housing Supply in Mecosta, MI

How many homes are available in Mecosta, MI?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
119-18.2%

Summary: The Mecosta real estate market had 9 homes for sale in January 2024, a 18.2% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 20
-100.0%
2 32
-33.3%
3 45
+25.0%
4 22
0.0%
5+ 00
0.0%

Summary: The Mecosta housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mecosta, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 1 homes were sold or pending in Mecosta in January 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.

Days on Market for Mecosta, MI

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

Average Sale Time

Jan 2023Jan 2024CHANGE
106 Days28 Days-73.6%

Summary: Homes in Mecosta had an average of 28 days on market in Jan 2024, down by 73.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 1 homes were sold in Mecosta; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 29 Days Ago

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