Is Midtown, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Midtown has remained a Seller's Market.
Key Takeaway
Midtown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Midtown, MI
How much do homes in Midtown, MI cost?
Median Sold Price
$285,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Midtown have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Midtown was $285,000 in April 2024, up 16.3% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | - | N/A |
| 2 Bedrooms | $168.5K | $239K | +41.8% |
| 3 Bedrooms | $245K | $285K | +16.3% |
| 4 Bedrooms | $280K | $330K | +17.9% |
| 5+ Bedrooms | $326K | $267.3K | -18.0% |
Summary: Midtown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 41.8%, 3 bedroom homes increased by 16.3%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes decreased by 18%.
Median Sold Price Compared To Nearby Neighborhoods
| Fulton Heights | $300K | $361K | +20.3% |
| North East Citizens Action | $278.5K | $332K | +19.2% |
| Midtown | $245K | $285K | +16.3% |
Housing Supply in Midtown, MI
How many homes are available in Midtown, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 9 | -25.0% |
Summary: The Midtown real estate market had 9 homes for sale in April 2024, a 25.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Midtown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 37.5%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Midtown, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Midtown in April 2024, the same as the previous month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Midtown, MI
How long does it take to sell a home in Midtown, MI?
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Midtown are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Midtown; 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.
