Is Merrill, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Merrill has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $94.3K | $182.2K | +93.3% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | 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 | $94.3K | $182.2K | +93.3% |
Jonesfield Township | $94.3K | $64.5K | -31.6% |
Housing Supply in Merrill, MI
How many homes are available in Merrill, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
4 | 5 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 4 | 3 | -25.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
1 | 2 | +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
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 2024 | Feb 2024 | CHANGE |
---|---|---|
7 Days | 57 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
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.