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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mount Morris Township is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Mount Morris Township was a Seller's Market.

Key Takeaway

Mount Morris Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Mount Morris Township, MI

How much do homes in Mount Morris Township, MI cost?

Median Sold Price

$129,950

$102/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$15,450(+13.5%)

Key Takeaway

Homes in Mount Morris Township have sold for 13.5% more than they did a year ago.

Summary: The median home sold price in Mount Morris Township was $129,950 in February 2024, up 13.5% from last year, and the median price per square foot was $102.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $40.6K$39.5K
-2.8%
2 $90K$100K
+11.1%
3 $117.2K$134K
+14.3%
4 $156K$154K
-1.3%
5+ $167K$157K
-6.0%

Summary: Mount Morris Township housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 1.3%, and 5+ bedroom homes decreased by 6%.

Median Sold Price Compared To Nearby Cities

Mount Morris
+44.6%
Flint
+23.1%
Genesee Charter Township
+13.6%
Mount Morris Township
+13.5%
Vienna Charter Township
+7.8%

Housing Supply in Mount Morris Township, MI

How many homes are available in Mount Morris Township, MI?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
89890.0%

Summary: The Mount Morris Township real estate market had 89 homes for sale in February 2024, the same as January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 2115
-28.6%
3 4656
+21.7%
4 1917
-10.5%
5+ 21
-50.0%

Summary: The Mount Morris Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 21.7%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1912-36.8%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mount Morris Township, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Mount Morris Township in February 2024, down by 36.8% month-over-month. Of the 12 sold homes, 58% were sold under asking, 17% were sold at asking, and 25% were sold over asking.

Days on Market for Mount Morris Township, MI

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

Average Sale Time

Feb 2023Feb 2024CHANGE
99 Days38 Days-61.0%

Summary: Homes in Mount Morris Township had an average of 38 days on market in Feb 2024, down by 61% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 12 homes were sold in Mount Morris Township; 50% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 8% 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 18 Days Ago

Newest Listings in Mount Morris Township, MI

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