Is Peninsula Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer'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
$775,000
$301/sqft
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
| # BEDS | Feb 2022 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $301.5K | $480K | +59.2% |
| 3 Bedrooms | $633K | $700K | +10.6% |
| 4 Bedrooms | $655K | $900K | +37.4% |
| 5+ Bedrooms | $800K | $895K | +11.9% |
Median Sold Price Compared To Nearby Cities
| Peninsula Township | $632.6K | $775K | +22.5% |
| Traverse City | $349.9K | $417.6K | +19.3% |
How many homes are available in Peninsula Township, MI?
Number of Homes For Sale
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 23 | 28 | +21.7% |
Homes For Sale By Bedroom Count
| # BEDS | Jan 2023 | Feb 2023 | % |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 3 | 6 | +100.0% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Number of Homes Sold
| Jan 2023 | Feb 2023 | % |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
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 2022 | Feb 2023 | % |
|---|---|---|
| 154 Days | 188 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
Key Takeaway
Many homes in Peninsula Township are selling fast, if you're buying plan to act quickly.
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