Is Palmyra, 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, Palmyra has remained a Seller's Market.
Key Takeaway
Palmyra is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmyra, MI
How much do homes in Palmyra, MI cost?
Median Sold Price
$160,500
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Palmyra have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Palmyra was $160,500 in April 2024, down 0.8% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $56K | $118K | +110.7% |
| 3 Bedrooms | $160K | $140K | -12.5% |
| 4 Bedrooms | $224.9K | $179.9K | -20.0% |
| 5+ Bedrooms | $179.9K | - | N/A |
Summary: Palmyra 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 110.7%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Raisin Township | $261.4K | $270K | +3.3% |
| Palmyra | $161.8K | $160.5K | -0.8% |
| Palmyra Township | $210K | $177.4K | -15.5% |
Housing Supply in Palmyra, MI
How many homes are available in Palmyra, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 7 | +75.0% |
Summary: The Palmyra real estate market had 7 homes for sale in April 2024, a 75.0% 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 | 1 | 2 | +100.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Palmyra 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 100%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmyra, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Palmyra in April 2024, up by 100.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.
Days on Market for Palmyra, MI
How long does it take to sell a home in Palmyra, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmyra are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Palmyra; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
