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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montrose Charter Township is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Montrose Charter Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Montrose Charter Township, MI

How much do homes in Montrose Charter Township, MI cost?

Median Sold Price

$187,844

$131/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$20,844(+12.5%)

Key Takeaway

Homes in Montrose Charter Township have sold for 12.5% more than they did a year ago.

Summary: The median home sold price in Montrose Charter Township was $187,844 in May 2024, up 12.5% from last year, and the median price per square foot was $131.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $75K-
N/A
2 $118K$135K
+14.4%
3 $168K$187.4K
+11.6%
4 $240K$245K
+2.1%
5+ $118.3K$172.5K
+45.7%

Summary: Montrose Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.4%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 45.7%.

Median Sold Price Compared To Nearby Cities

Burt
+14.6%
Montrose
+14.2%
Montrose Charter Township
+12.5%
Vienna Charter Township
+8.1%
Taymouth Township
+6.3%

Housing Supply in Montrose Charter Township, MI

How many homes are available in Montrose Charter Township, MI?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2924-17.2%

Summary: The Montrose Charter Township real estate market had 24 homes for sale in May 2024, a 17.2% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 64
-33.3%
3 1714
-17.6%
4 55
0.0%
5+ 11
0.0%

Summary: The Montrose Charter Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 17.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
86-25.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montrose Charter Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Montrose Charter Township in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for Montrose Charter Township, MI

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

Average Sale Time

May 2023May 2024CHANGE
12 Days18 Days+53.2%

Summary: Homes in Montrose Charter Township had an average of 18 days on market in May 2024, up by 53.2% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 6 homes were sold in Montrose Charter Township; 67% of homes were sold within 30 days, 33% 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 20 Days Ago

Newest Listings in Montrose Charter Township, MI

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