Is Monterey Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Monterey Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Monterey Township has remained a Seller's Market.

Key Takeaway

Monterey Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Monterey Township, MI

How much do homes in Monterey Township, MI cost?

Median Sold Price

$297,000

$245/sqft

Based on all homes sold in February 2024.

Difference Since Last Month

+$37,000(+14.2%)

Key Takeaway

Homes in Monterey Township have sold for 14.2% more than they did a month ago.

Summary: The median home sold price in Monterey Township was $297,000 in February 2024, up 14.2% from last month, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 --
N/A
3 $235K$213K
-9.4%
4 $270K-
N/A
5+ $250K$381K
+52.4%

Summary: Monterey Township 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 decreased by 9.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 52.4%.

Median Sold Price Compared To Nearby Cities

Monterey Township
+14.2%
Hopkins Township
-27.7%

Housing Supply in Monterey Township, MI

How many homes are available in Monterey Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
84-50.0%

Summary: The Monterey Township real estate market had 4 homes for sale in February 2024, a 50.0% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 53
-40.0%
4 10
-100.0%
5+ 21
-50.0%

Summary: The Monterey Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Monterey Township, 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 Monterey Township in February 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 Monterey Township, MI

How long does it take to sell a home in Monterey Township, MI?

Average Sale Time

Jan 2024Feb 2024CHANGE
23 Days7 Days-68.4%

Summary: Homes in Monterey Township had an average of 7 days on market in Feb 2024, down by 68.4% compared to last month.

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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Monterey Township are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 2 homes were sold in Monterey Township; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Monterey Township, MI

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