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

Housing Market Conditions



Gauge showing Peninsula Township is a neutral's market


Difference Since February 2022

At the same time last year, Peninsula Township was a Seller's Market.

Key Takeaway

Peninsula Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Peninsula Township, MI cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since February 2022


Key Takeaway

Homes in Peninsula Township have sold for 22.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSFeb 2022Feb 2023%
1 --
2 $301.5K$480K
3 $633K$700K
4 $655K$900K
5+ $800K$895K

Median Sold Price Compared To Nearby Cities

Peninsula Township
Traverse City

How many homes are available in Peninsula Township, MI?

Number of Homes For Sale

Jan 2023Feb 2023%

Homes For Sale By Bedroom Count

# BEDSJan 2023Feb 2023%
1 11
2 46
3 36
4 88
5+ 77

Number of Homes Sold

Jan 2023Feb 2023%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Peninsula Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.

Average Sale Time

Feb 2022Feb 2023%
154 Days188 Days+21.5%

Breakdown of Home Sale Times

2 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.

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

About Peninsula Township, MI

Peninsula Township, MI has 28 homes on the market. The inventory of homes for sale in Peninsula Township, MI between January 2023 and February 2023 increased by 21.7%. While the average time on the market in February 2023 was 188 days, the median list price was $775,000. Real estate listing prices changed between January 2023 and February 2023: prices of 1 bedroom properties increased by 0%, prices of 2 bedrooms properties went up by 59.2%, 3 bedrooms properties prices increased by 10.6%, 4 bedrooms properties became 37.4% more expensive, prices of 5 bedrooms properties went up by 11.9%. The following changes in the number of homes for sale were observed in this housing market: 1 bedroom homes inventory did not change, 2 bedrooms homes inventory increased by 50%, 3 bedrooms homes became 100% more available, volume of 4 bedrooms homes stayed the same, 5 bedrooms homes inventory did not change. In February 2023 more than 1 listings in Peninsula Township, MI were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 1 were sold below.

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