Is North Branch, 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, 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
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North Branch have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in North Branch was $244,000 in April 2024, up 9.7% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $270K | N/A |
| 2 Bedrooms | $145.9K | $255K | +74.8% |
| 3 Bedrooms | $200K | $235K | +17.5% |
| 4 Bedrooms | $325K | $330K | +1.5% |
| 5+ Bedrooms | $485K | $520K | +7.2% |
Summary: North Branch housing prices by bedroom type for April 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 increased by 1.5%, and 5+ bedroom homes increased by 7.2%.
Median Sold Price Compared To Nearby Cities
| North Branch | $222.4K | $244K | +9.7% |
| North Branch Township | $224.9K | $244K | +8.5% |
Housing Supply in North Branch, MI
How many homes are available in North Branch, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 29 | +20.8% |
Summary: The North Branch real estate market had 29 homes for sale in April 2024, a 20.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The North Branch 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 increased by 100%, 3 bedroom homes increased by 10.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 7 | +16.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Branch, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in North Branch in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 231 Days | 184 Days | -20.2% |
Summary: Homes in North Branch had an average of 184 days on market in Apr 2024, down by 20.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in North Branch are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 7 homes were sold in North Branch; 43% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 57% of homes were sold over 90 days.
