Is Penn Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Penn Township has remained a Seller's Market.
Housing Prices in Penn Township, MI
How much do homes in Penn Township, MI cost?
Median Sold Price
$435,000
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Penn Township was $435,000 in April 2024, up 20.9% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $347K | $685K | +97.4% |
3 Bedrooms | $345K | $400K | +15.9% |
4 Bedrooms | $455K | $435K | -4.4% |
5+ Bedrooms | $1.5M | $1.0M | -32.2% |
Summary: Penn Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 97.4%, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes decreased by 32.2%.
Median Sold Price Compared To Nearby Cities
Penn Township | $359.9K | $435K | +20.9% |
Cassopolis | $221.5K | $252.5K | +14.0% |
Housing Supply in Penn Township, MI
How many homes are available in Penn Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 7 | +40.0% |
Summary: The Penn Township real estate market had 7 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 3 | 3 | 0.0% |
4 Bedrooms | 0 | 2 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Penn Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Penn Township in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Penn Township, MI
How long does it take to sell a home in Penn Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
27 Days | 5 Days | -81.5% |
Summary: Homes in Penn Township had an average of 5 days on market in Apr 2024, down by 81.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 2 homes were sold in Penn Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.