Is Montmorency County, 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, Montmorency County was a Seller's Market.
Housing Prices in Montmorency County, MI
How much do homes in Montmorency County, MI cost?
Median Sold Price
$159,000
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Montmorency County was $159,000 in March 2024, up 8% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $106K | $90K | -15.1% |
2 Bedrooms | $131.5K | $128.5K | -2.3% |
3 Bedrooms | $164.9K | $202.4K | +22.8% |
4 Bedrooms | $308K | $240K | -22.1% |
5+ Bedrooms | $98.5K | $689K | +599.5% |
Summary: Montmorency County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.1%, 2 bedroom homes decreased by 2.3%, 3 bedroom homes increased by 22.8%, 4 bedroom homes decreased by 22.1%, and 5+ bedroom homes increased by 599.5%.
Median Sold Price Compared To Nearby Counties
Presque Isle County | $165K | $194.2K | +17.7% |
Alpena County | $140K | $158.9K | +13.5% |
Montmorency County | $147.1K | $159K | +8.0% |
Otsego County | $235K | $240.8K | +2.5% |
Oscoda County | $120K | $110K | -8.3% |
Housing Supply in Montmorency County, MI
How many homes are available in Montmorency County, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 61 | +8.9% |
Summary: The Montmorency County real estate market had 61 homes for sale in March 2024, a 8.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 14 | 14 | 0.0% |
3 Bedrooms | 27 | 31 | +14.8% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Montmorency County 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 remained the same, 3 bedroom homes increased by 14.8%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Montmorency County in March 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 60% were sold at asking, and 0% were sold over asking.
Days on Market for Montmorency County, MI
How long does it take to sell a home in Montmorency County, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 1 Day | -98.2% |
Summary: Homes in Montmorency County had an average of 1 days on market in Mar 2024, down by 98.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 5 homes were sold in Montmorency County; 20% 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.