Is Peninsula Township, 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, Peninsula Township has remained a Seller's Market.
Housing Prices in Peninsula Township, MI
How much do homes in Peninsula Township, MI cost?
Median Sold Price
$1,520,000
$345/sqft
Based on all homes sold in February 2024.
Difference Since Last Month
Summary: The median home sold price in Peninsula Township was $1,520,000 in February 2024, up 184.1% from last month, and the median price per square foot was $345.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $370.2K | - | N/A |
3 Bedrooms | $630K | $2.3M | +280.9% |
4 Bedrooms | $760K | $862.5K | +13.5% |
5+ Bedrooms | - | - | N/A |
Summary: Peninsula Township housing prices by bedroom type for February 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 increased by 280.9%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes did not change.
Housing Supply in Peninsula Township, MI
How many homes are available in Peninsula Township, MI?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
19 | 26 | +36.8% |
Summary: The Peninsula Township real estate market had 26 homes for sale in February 2024, a 36.8% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 2 | 0.0% |
3 Bedrooms | 9 | 12 | +33.3% |
4 Bedrooms | 6 | 10 | +66.7% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Peninsula Township housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Peninsula Township in February 2024, down by 16.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Peninsula Township, MI
How long does it take to sell a home in Peninsula Township, MI?
Average Sale Time
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
119 Days | 104 Days | -12.8% |
Summary: Homes in Peninsula Township had an average of 104 days on market in Feb 2024, down by 12.8% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 5 homes were sold in Peninsula Township; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.