Is Milan, 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, Milan was a Seller's Market.
Housing Prices in Milan, MI
How much do homes in Milan, MI cost?
Median Sold Price
$299,999
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Milan was $299,999 in March 2024, up 16% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $135K | - | N/A |
2 Bedrooms | $167.5K | $225.5K | +34.6% |
3 Bedrooms | $259.9K | $295K | +13.5% |
4 Bedrooms | $317.5K | $355K | +11.8% |
5+ Bedrooms | $420K | $405K | -3.6% |
Summary: Milan 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 34.6%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes decreased by 3.6%.
Median Sold Price Compared To Nearby Cities
Milan | $258.7K | $299.9K | +16.0% |
Milan Township | $261.4K | $299.4K | +14.6% |
York Charter Township | $518K | $495K | -4.4% |
Housing Supply in Milan, MI
How many homes are available in Milan, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 24 | -7.7% |
Summary: The Milan real estate market had 24 homes for sale in March 2024, a 7.7% decrease 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 | 1 | 0 | -100.0% |
3 Bedrooms | 16 | 18 | +12.5% |
4 Bedrooms | 9 | 6 | -33.3% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Milan 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 decreased by 100%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 4 | -60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Milan in March 2024, down by 60.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 20 Days | -49.1% |
Summary: Homes in Milan had an average of 20 days on market in Mar 2024, down by 49.1% compared to last year.
Breakdown of Home Sale Times
3 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, 4 homes were sold in Milan; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.