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 June 2023
At the same time last year, New Buffalo Township was a Seller's Market.
Key Takeaway
New Buffalo Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New Buffalo Township, MI
How much do homes in New Buffalo Township, MI cost?
Median Sold Price
$600,000
$380/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in New Buffalo Township have sold for 4.3% less than they did a year ago.
Summary: The median home sold price in New Buffalo Township was $600,000 in June 2024, down 4.3% from last year, and the median price per square foot was $380.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $337.2K | $439.5K | +30.3% |
| 2 Bedrooms | $370K | $430K | +16.2% |
| 3 Bedrooms | $532.5K | $524.5K | -1.5% |
| 4 Bedrooms | $822.5K | $802K | -2.5% |
| 5+ Bedrooms | $1.4M | $1.0M | -29.1% |
Summary: New Buffalo Township housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.3%, 2 bedroom homes increased by 16.2%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 29.1%.
Median Sold Price Compared To Nearby Cities
| New Buffalo | $575K | $599K | +4.2% |
| New Buffalo Township | $627.2K | $600K | -4.3% |
| Union Pier | $730K | $679K | -7.0% |
Housing Supply in New Buffalo Township, MI
How many homes are available in New Buffalo Township, MI?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 81 | 84 | +3.7% |
Summary: The New Buffalo Township real estate market had 84 homes for sale in June 2024, a 3.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 25 | 25 | 0.0% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 21 | 25 | +19.0% |
Summary: The New Buffalo Township housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 19%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 12 | 13 | +8.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New Buffalo Township, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in New Buffalo Township in June 2024, up by 8.3% month-over-month. Of the 13 sold homes, 77% were sold under asking, 15% were sold at asking, and 8% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 51 Days | 49 Days | -3.6% |
Summary: Homes in New Buffalo Township had an average of 49 days on market in Jun 2024, down by 3.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Buffalo Township are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 13 homes were sold in New Buffalo Township; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.