Is New Buffalo, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Buffalo is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, New Buffalo has remained a Seller's Market.

Key Takeaway

New Buffalo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in New Buffalo, MI

How much do homes in New Buffalo, MI cost?

Median Sold Price

$599,000

$374/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$34,000(+6.0%)

Key Takeaway

Homes in New Buffalo have sold for 6% more than they did a year ago.

Summary: The median home sold price in New Buffalo was $599,000 in April 2024, up 6% from last year, and the median price per square foot was $374.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $370K$389.5K
+5.3%
2 $365.5K$419K
+14.6%
3 $540K$493K
-8.7%
4 $725K$732.5K
+1.0%
5+ $1.2M$1.4M
+19.2%

Summary: New Buffalo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.3%, 2 bedroom homes increased by 14.6%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 19.2%.

Median Sold Price Compared To Nearby Cities

New Buffalo
+6.0%
New Buffalo Township
-4.2%

Housing Supply in New Buffalo, MI

How many homes are available in New Buffalo, MI?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
6770+4.5%

Summary: The New Buffalo real estate market had 70 homes for sale in April 2024, a 4.5% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 33
0.0%
2 75
-28.6%
3 2524
-4.0%
4 1923
+21.1%
5+ 1315
+15.4%

Summary: The New Buffalo 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 28.6%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes increased by 15.4%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1116+45.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Buffalo, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in New Buffalo in April 2024, up by 45.5% month-over-month. Of the 16 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for New Buffalo, MI

How long does it take to sell a home in New Buffalo, MI?

Average Sale Time

Apr 2023Apr 2024CHANGE
32 Days81 Days+153.9%

Summary: Homes in New Buffalo had an average of 81 days on market in Apr 2024, up by 153.9% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in New Buffalo has remained consistent over time.

Summary: During April 2024, 16 homes were sold in New Buffalo; 13% of homes were sold within 30 days, 69% of homes were sold within 30 to 90 days, and 19% 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 9 Days Ago

Newest Listings in New Buffalo, MI

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