Is Montrose, 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, Montrose was a Seller's Market.
Housing Prices in Montrose, MI
How much do homes in Montrose, MI cost?
Median Sold Price
$185,000
$123/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Montrose was $185,000 in March 2024, up 35.5% from last year, and the median price per square foot was $123.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $75K | N/A |
2 Bedrooms | $125K | $110.5K | -11.6% |
3 Bedrooms | $130K | $180K | +38.5% |
4 Bedrooms | $202.2K | $245K | +21.1% |
5+ Bedrooms | - | $172.5K | N/A |
Summary: Montrose 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 decreased by 11.6%, 3 bedroom homes increased by 38.5%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Montrose | $136.5K | $185K | +35.5% |
Montrose Charter Township | $173.4K | $187.8K | +8.3% |
Housing Supply in Montrose, MI
How many homes are available in Montrose, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 26 | +30.0% |
Summary: The Montrose real estate market had 26 homes for sale in March 2024, a 30.0% increase 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 | 3 | 7 | +133.3% |
3 Bedrooms | 8 | 13 | +62.5% |
4 Bedrooms | 7 | 5 | -28.6% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Montrose 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 increased by 133.3%, 3 bedroom homes increased by 62.5%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 4 | -33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Montrose in March 2024, down by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Montrose, MI
How long does it take to sell a home in Montrose, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
84 Days | 11 Days | -86.4% |
Summary: Homes in Montrose had an average of 11 days on market in Mar 2024, down by 86.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Montrose; 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.