Is Parchment, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Parchment has remained a Seller's Market.
Key Takeaway
Parchment is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Parchment, MI
How much do homes in Parchment, MI cost?
Median Sold Price
$147,000
$115/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Parchment have sold for 32.8% less than they did a month ago.
Summary: The median home sold price in Parchment was $147,000 in March 2024, down 32.8% from last month, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $125K | N/A |
| 3 Bedrooms | $162.5K | $147K | -9.5% |
| 4 Bedrooms | $275K | - | N/A |
| 5+ Bedrooms | - | $253K | N/A |
Summary: Parchment housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 9.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Parchment, MI
How many homes are available in Parchment, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The Parchment real estate market had 8 homes for sale in March 2024, a 11.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Parchment 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 100%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Parchment, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Parchment in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Parchment, MI
How long does it take to sell a home in Parchment, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 48 Days | +37.3% |
Summary: Homes in Parchment had an average of 48 days on market in Mar 2024, up by 37.3% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Parchment has remained consistent over time.
Summary: During March 2024, 4 homes were sold in Parchment; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
