Is Mount Olivet, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mount Olivet was a Seller's Market.
Key Takeaway
Mount Olivet is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mount Olivet, MI
How much do homes in Mount Olivet, MI cost?
Median Sold Price
$52,500
$52/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mount Olivet have sold for 10.5% more than they did a year ago.
Summary: The median home sold price in Mount Olivet was $52,500 in April 2024, up 10.5% from last year, and the median price per square foot was $52.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $39.5K | $45K | +13.9% |
| 3 Bedrooms | $49K | $55K | +12.2% |
| 4 Bedrooms | $38K | $80K | +110.5% |
| 5+ Bedrooms | $31.7K | $65K | +104.7% |
Summary: Mount Olivet housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 110.5%, and 5+ bedroom homes increased by 104.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Von Steuben | $42K | $55K | +31.0% |
| Greenbriar | $40K | $45K | +12.5% |
| Mohican Regent | $75.5K | $84.7K | +12.3% |
| Mount Olivet | $47.5K | $52.5K | +10.5% |
| Pulaski | $48K | $45K | -6.3% |
Housing Supply in Mount Olivet, MI
How many homes are available in Mount Olivet, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 104 | 102 | -1.9% |
Summary: The Mount Olivet real estate market had 102 homes for sale in April 2024, a 1.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 21 | 18 | -14.3% |
| 3 Bedrooms | 77 | 77 | 0.0% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mount Olivet housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 9 | -47.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Olivet, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Mount Olivet in April 2024, down by 47.1% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for Mount Olivet, MI
How long does it take to sell a home in Mount Olivet, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 71 Days | 94 Days | +33.6% |
Summary: Homes in Mount Olivet had an average of 94 days on market in Apr 2024, up by 33.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Mount Olivet are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 9 homes were sold in Mount Olivet; 22% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 44% of homes were sold over 90 days.
