Is New Buffalo, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, New Buffalo has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $370K | $389.5K | +5.3% |
2 Bedrooms | $365.5K | $419K | +14.6% |
3 Bedrooms | $540K | $493K | -8.7% |
4 Bedrooms | $725K | $732.5K | +1.0% |
5+ Bedrooms | $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 | $565K | $599K | +6.0% |
New Buffalo Township | $650K | $622.5K | -4.2% |
Housing Supply in New Buffalo, MI
How many homes are available in New Buffalo, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
67 | 70 | +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
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 25 | 24 | -4.0% |
4 Bedrooms | 19 | 23 | +21.1% |
5+ Bedrooms | 13 | 15 | +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 2024 | Apr 2024 | CHANGE |
---|---|---|
11 | 16 | +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
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 2023 | Apr 2024 | CHANGE |
---|---|---|
32 Days | 81 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
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.