$4,572 Closing Credit*
$384,999
2,035 SqFt
4 Beds
•2 Full Baths, 1 Partial
Steve Koleno, Listing Office: Beycome Brokerage Realty LLC
Is Milan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Milan has remained a Seller's Market.
Key Takeaway
Milan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Milan, MI
How much do homes in Milan, MI cost?
Median Sold Price
$299,900
$173/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$32,400(+12.1%)
Key Takeaway
Homes in Milan have sold for 12.1% more than they did a year ago.
Summary: The median home sold price in Milan was $299,900 in September 2024, up 12.1% from last year, and the median price per square foot was $173.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | - | N/A |
| 2 Bedrooms | $182.5K | $230K | +26.0% |
| 3 Bedrooms | $261.5K | $291.9K | +11.6% |
| 4 Bedrooms | $323.7K | $355K | +9.7% |
| 5+ Bedrooms | $405K | $385.7K | -4.8% |
Summary: Milan housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 4.8%.
Median Sold Price Compared To Nearby Cities
| York Charter Township | $455K | $617.5K | +35.7% |
| Milan | $267.5K | $299.9K | +12.1% |
| Milan Township | $265K | $294K | +10.9% |
Housing Supply in Milan, MI
How many homes are available in Milan, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 56 | 41 | -26.8% |
Summary: The Milan real estate market had 41 homes for sale in September 2024, a 26.8% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 35 | 21 | -40.0% |
| 4 Bedrooms | 15 | 11 | -26.7% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Milan housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 80%, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 25 | 11 | -56.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Milan, you may be able to get a good deal. 36.4% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Milan in September 2024, down by 56.0% month-over-month. Of the 11 sold homes, 36% were sold under asking, 27% were sold at asking, and 36% were sold over asking.
Days on Market for Milan, MI
How long does it take to sell a home in Milan, MI?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 66 Days | 30 Days | -54.2% |
Summary: Homes in Milan had an average of 30 days on market in Sep 2024, down by 54.2% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Milan are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 11 homes were sold in Milan; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.