Is North Branch, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Branch is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, North Branch has remained a Seller's Market.

Key Takeaway

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

Housing Prices in North Branch, MI

How much do homes in North Branch, MI cost?

Median Sold Price

$244,000

$160/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$41,000(+20.2%)

Key Takeaway

Homes in North Branch have sold for 20.2% more than they did a year ago.

Summary: The median home sold price in North Branch was $244,000 in March 2024, up 20.2% from last year, and the median price per square foot was $160.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$270K
N/A
2 $145.9K$255K
+74.8%
3 $200K$235K
+17.5%
4 $372.5K$310K
-16.8%
5+ $485K$520K
+7.2%

Summary: North Branch housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 74.8%, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 16.8%, and 5+ bedroom homes increased by 7.2%.

Median Sold Price Compared To Nearby Cities

North Branch
+20.2%
North Branch Township
+14.8%

Housing Supply in North Branch, MI

How many homes are available in North Branch, MI?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2224+9.1%

Summary: The North Branch real estate market had 24 homes for sale in March 2024, a 9.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 1718
+5.9%
4 55
0.0%
5+ 00
0.0%

Summary: The North Branch housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 5.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
45+25.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Branch, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in North Branch in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for North Branch, MI

How long does it take to sell a home in North Branch, MI?

Average Sale Time

Mar 2023Mar 2024CHANGE
94 Days81 Days-13.6%

Summary: Homes in North Branch had an average of 81 days on market in Mar 2024, down by 13.6% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in North Branch has remained consistent over time.

Summary: During March 2024, 5 homes were sold in North Branch; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% 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 12 Days Ago

Newest Listings in North Branch, MI

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