Is Millbrook, 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, Millbrook has remained a Seller's Market.
Key Takeaway
Millbrook is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Millbrook, MI
How much do homes in Millbrook, MI cost?
Median Sold Price
$335,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Millbrook have sold for 10.6% more than they did a year ago.
Summary: The median home sold price in Millbrook was $335,000 in April 2024, up 10.6% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $129.9K | $135.1K | +4.0% |
| 2 Bedrooms | $280K | $326.5K | +16.6% |
| 3 Bedrooms | $304K | $333.5K | +9.7% |
| 4 Bedrooms | $317.5K | $344K | +8.3% |
| 5+ Bedrooms | $324.9K | $332.9K | +2.5% |
Summary: Millbrook housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 16.6%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 2.5%.
Housing Supply in Millbrook, MI
How many homes are available in Millbrook, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Millbrook real estate market had 11 homes for sale in April 2024, a 8.3% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Millbrook housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Millbrook, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Millbrook in April 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Millbrook, MI
How long does it take to sell a home in Millbrook, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 16 Days | +166.7% |
Summary: Homes in Millbrook had an average of 16 days on market in Apr 2024, up by 166.7% compared to last year.
Breakdown of Home Sale Times
2 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 Millbrook are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Millbrook; 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.
