Is Ogemaw County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Ogemaw County was a Neutral Market.
Key Takeaway
Ogemaw County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ogemaw County, MI
How much do homes in Ogemaw County, MI cost?
Median Sold Price
$149,900
$114/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Ogemaw County have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Ogemaw County was $149,900 in March 2024, up 9.4% from last year, and the median price per square foot was $114.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $80.5K | +15.0% |
| 2 Bedrooms | $75K | $99.9K | +33.3% |
| 3 Bedrooms | $154.9K | $185K | +19.4% |
| 4 Bedrooms | $240K | $230K | -4.2% |
| 5+ Bedrooms | $469.7K | $250K | -46.8% |
Summary: Ogemaw County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 19.4%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes decreased by 46.8%.
Median Sold Price Compared To Nearby Counties
| Alcona County | $150K | $175K | +16.7% |
| Iosco County | $150K | $166.3K | +10.9% |
| Ogemaw County | $137K | $149.9K | +9.4% |
| Oscoda County | $120K | $110K | -8.3% |
Housing Supply in Ogemaw County, MI
How many homes are available in Ogemaw County, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 70 | 75 | +7.1% |
Summary: The Ogemaw County real estate market had 75 homes for sale in March 2024, a 7.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 21 | 24 | +14.3% |
| 3 Bedrooms | 37 | 37 | 0.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Ogemaw County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 10 | -47.4% |
Asking Price vs. Sold Price
7 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 Ogemaw County, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Ogemaw County in March 2024, down by 47.4% month-over-month. Of the 10 sold homes, 70% were sold under asking, 20% were sold at asking, and 10% were sold over asking.
Days on Market for Ogemaw County, MI
How long does it take to sell a home in Ogemaw County, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 69 Days | 68 Days | -0.3% |
Summary: Homes in Ogemaw County had an average of 68 days on market in Mar 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ogemaw County are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Ogemaw County; 30% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
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