Is Menominee, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Menominee was a Seller's Market.
Housing Prices in Menominee, MI
How much do homes in Menominee, MI cost?
Median Sold Price
$148,000
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Menominee was $148,000 in March 2024, up 17.9% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $123.9K | N/A |
2 Bedrooms | $119.9K | $130K | +8.4% |
3 Bedrooms | $126K | $152.5K | +21.0% |
4 Bedrooms | $174.5K | $181.4K | +4.0% |
5+ Bedrooms | $117K | $230K | +96.6% |
Summary: Menominee housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.4%, 3 bedroom homes increased by 21%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 96.6%.
Median Sold Price Compared To Nearby Cities
Menominee Township | $126K | $150K | +19.0% |
Menominee | $125.5K | $148K | +17.9% |
Marinette | $150K | $156.5K | +4.3% |
Housing Supply in Menominee, MI
How many homes are available in Menominee, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
30 | 40 | +33.3% |
Summary: The Menominee real estate market had 40 homes for sale in March 2024, a 33.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 15 | 22 | +46.7% |
4 Bedrooms | 8 | 9 | +12.5% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Menominee 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 40%, 3 bedroom homes increased by 46.7%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 6 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Menominee in March 2024, the same as the previous month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Menominee, MI
How long does it take to sell a home in Menominee, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 6 homes were sold in Menominee; 0% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.