Is New Buffalo Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, New Buffalo Township was a Seller's Market.
Housing Prices in New Buffalo Township, MI
How much do homes in New Buffalo Township, MI cost?
Median Sold Price
$600,500
$386/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in New Buffalo Township was $600,500 in March 2024, down 7.8% from last year, and the median price per square foot was $386.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $352.5K | $350K | -0.7% |
2 Bedrooms | $365.5K | $437.5K | +19.7% |
3 Bedrooms | $570K | $500K | -12.3% |
4 Bedrooms | $870K | $725K | -16.7% |
5+ Bedrooms | $1.3M | $1.3M | +6.0% |
Summary: New Buffalo Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 19.7%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 6%.
Median Sold Price Compared To Nearby Cities
Union Pier | $637.3K | $775K | +21.6% |
New Buffalo | $565K | $577.5K | +2.2% |
New Buffalo Township | $651.3K | $600.5K | -7.8% |
Housing Supply in New Buffalo Township, MI
How many homes are available in New Buffalo Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
56 | 74 | +32.1% |
Summary: The New Buffalo Township real estate market had 74 homes for sale in March 2024, a 32.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 23 | 28 | +21.7% |
4 Bedrooms | 13 | 19 | +46.2% |
5+ Bedrooms | 13 | 16 | +23.1% |
Summary: The New Buffalo Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 21.7%, 4 bedroom homes increased by 46.2%, and 5+ bedroom homes increased by 23.1%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 11 | +120.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 11 homes were sold or pending in New Buffalo Township in March 2024, up by 120.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 45% were sold at asking, and 9% were sold over asking.
Days on Market for New Buffalo Township, MI
How long does it take to sell a home in New Buffalo Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
84 Days | 69 Days | -18.1% |
Summary: Homes in New Buffalo Township had an average of 69 days on market in Mar 2024, down by 18.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 11 homes were sold in New Buffalo Township; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.