Is Owosso, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Owosso has remained a Seller's Market.
Housing Prices in Owosso, MI
How much do homes in Owosso, MI cost?
Median Sold Price
$145,666
$121/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Owosso was $145,666 in March 2024, up 12% from last year, and the median price per square foot was $121.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $59.5K | $64.5K | +8.4% |
2 Bedrooms | $114.5K | $127.9K | +11.7% |
3 Bedrooms | $135K | $160K | +18.5% |
4 Bedrooms | $155K | $199.7K | +28.8% |
5+ Bedrooms | $149.9K | $233K | +55.4% |
Summary: Owosso housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.4%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 18.5%, 4 bedroom homes increased by 28.8%, and 5+ bedroom homes increased by 55.4%.
Median Sold Price Compared To Nearby Cities
Owosso | $130K | $145.6K | +12.0% |
Caledonia Charter Township | $334.9K | $370K | +10.5% |
Owosso Charter Township | $146K | $145.3K | -0.5% |
Housing Supply in Owosso, MI
How many homes are available in Owosso, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
68 | 76 | +11.8% |
Summary: The Owosso real estate market had 76 homes for sale in March 2024, a 11.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 13 | 16 | +23.1% |
3 Bedrooms | 33 | 39 | +18.2% |
4 Bedrooms | 16 | 16 | 0.0% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Owosso 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 23.1%, 3 bedroom homes increased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
22 | 16 | -27.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Owosso in March 2024, down by 27.3% month-over-month. Of the 16 sold homes, 31% were sold under asking, 13% were sold at asking, and 56% were sold over asking.
Days on Market for Owosso, MI
How long does it take to sell a home in Owosso, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 17 Days | -56.0% |
Summary: Homes in Owosso had an average of 17 days on market in Mar 2024, down by 56% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in Owosso; 88% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.