Is Peninsula Township, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Peninsula Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Peninsula Township has remained a Seller's Market.

Key Takeaway

Peninsula Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

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

+$985,000(+184.1%)

Key Takeaway

Homes in Peninsula Township have sold for 184.1% more than they did a month ago.

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

# BEDSJan 2024Feb 2024CHANGE
1 --
N/A
2 $370.2K-
N/A
3 $630K$2.3M
+280.9%
4 $760K$862.5K
+13.5%
5+ --
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 2024Feb 2024CHANGE
1926+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 22
0.0%
3 912
+33.3%
4 610
+66.7%
5+ 22
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 2024Feb 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peninsula Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.

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 2024Feb 2024CHANGE
119 Days104 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

Breakdown of Home Sale Times

Key Takeaway

Many homes in Peninsula Township are selling fast, if you're buying plan to act quickly.

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Peninsula Township, MI

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