Is North East, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, North East was a Seller's Market.
Key Takeaway
North East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North East, MI
How much do homes in North East, MI cost?
Median Sold Price
$55,200
$54/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North East have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in North East was $55,200 in April 2024, up 10.4% from last year, and the median price per square foot was $54.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $120K | N/A |
| 2 Bedrooms | $40K | $42K | +5.0% |
| 3 Bedrooms | $50K | $55K | +10.0% |
| 4 Bedrooms | $70K | $75.7K | +8.1% |
| 5+ Bedrooms | $90K | $140K | +55.6% |
Summary: North East 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 5%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 55.6%.
Housing Supply in North East, MI
How many homes are available in North East, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 184 | 210 | +14.1% |
Summary: The North East real estate market had 210 homes for sale in April 2024, a 14.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 25 | 36 | +44.0% |
| 3 Bedrooms | 126 | 137 | +8.7% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 13 | 13 | 0.0% |
Summary: The North East 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 44%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 35 | 28 | -20.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North East, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in North East in April 2024, down by 20.0% month-over-month. Of the 28 sold homes, 75% were sold under asking, 18% were sold at asking, and 7% were sold over asking.
Days on Market for North East, MI
How long does it take to sell a home in North East, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 39 Days | 50 Days | +30.2% |
Summary: Homes in North East had an average of 50 days on market in Apr 2024, up by 30.2% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North East are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 28 homes were sold in North East; 43% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.