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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merrill is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Merrill has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Merrill, MI

How much do homes in Merrill, MI cost?

Median Sold Price

$182,250

$110/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$87,950(+93.3%)

Key Takeaway

Homes in Merrill have sold for 93.3% more than they did a month ago.

Summary: The median home sold price in Merrill was $182,250 in February 2024, up 93.3% from last month, and the median price per square foot was $110.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $94.3K$182.2K
+93.3%
4 --
N/A
5+ --
N/A

Summary: Merrill housing prices by bedroom type for February 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 93.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Merrill
+93.3%
Jonesfield Township
-31.6%

Housing Supply in Merrill, MI

How many homes are available in Merrill, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
45+25.0%

Summary: The Merrill real estate market had 5 homes for sale in February 2024, a 25.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 01
+100.0%
2 01
+100.0%
3 43
-25.0%
4 00
0.0%
5+ 00
0.0%

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

Number of Homes Sold

Jan 2024Feb 2024CHANGE
12+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merrill, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Merrill in February 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Merrill, MI

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

Average Sale Time

Jan 2024Feb 2024CHANGE
7 Days57 Days+721.4%

Summary: Homes in Merrill had an average of 57 days on market in Feb 2024, up by 721.4% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Merrill has remained consistent over time.

Summary: During February 2024, 2 homes were sold in Merrill; 0% of homes were sold within 30 days, 100% 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 28 Days Ago

Newest Listings in Merrill, MI

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