Is Northeast, 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, Northeast has remained a Seller's Market.
Housing Prices in Northeast, MI
How much do homes in Northeast, MI cost?
Median Sold Price
$545,550
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Northeast was $545,550 in April 2024, up 14.5% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $257K | N/A |
2 Bedrooms | $289K | $310K | +7.3% |
3 Bedrooms | $451K | $527.5K | +17.0% |
4 Bedrooms | $616K | $630K | +2.3% |
5+ Bedrooms | $625K | $1.0M | +70.7% |
Summary: Northeast 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 7.3%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 70.7%.
Median Sold Price Compared To Nearby Neighborhoods
Northeast | $476.5K | $545.5K | +14.5% |
Angell | $875K | $965.5K | +10.3% |
Central | $600K | $600K | 0.0% |
Broadway Area | $305.2K | $300K | -1.7% |
Housing Supply in Northeast, MI
How many homes are available in Northeast, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
78 | 109 | +39.7% |
Summary: The Northeast real estate market had 109 homes for sale in April 2024, a 39.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 15 | 23 | +53.3% |
3 Bedrooms | 34 | 36 | +5.9% |
4 Bedrooms | 22 | 38 | +72.7% |
5+ Bedrooms | 6 | 11 | +83.3% |
Summary: The Northeast 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 53.3%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 72.7%, and 5+ bedroom homes increased by 83.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 31 | +24.0% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 31 homes were sold or pending in Northeast in April 2024, up by 24.0% month-over-month. Of the 31 sold homes, 45% were sold under asking, 3% were sold at asking, and 52% were sold over asking.
Days on Market for Northeast, MI
How long does it take to sell a home in Northeast, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
37 Days | 30 Days | -19.5% |
Summary: Homes in Northeast had an average of 30 days on market in Apr 2024, down by 19.5% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 31 homes were sold in Northeast; 48% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.