Is Pennfield Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Pennfield Charter Township was a Neutral Market.
Housing Prices in Pennfield Charter Township, MI
How much do homes in Pennfield Charter Township, MI cost?
Median Sold Price
$214,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Pennfield Charter Township was $214,000 in March 2024, up 12.6% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $55K | $86K | +56.4% |
2 Bedrooms | $138.9K | $167K | +20.2% |
3 Bedrooms | $180K | $200K | +11.1% |
4 Bedrooms | $235K | $315.5K | +34.3% |
5+ Bedrooms | $464K | $355K | -23.5% |
Summary: Pennfield Charter Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.4%, 2 bedroom homes increased by 20.2%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 34.3%, and 5+ bedroom homes decreased by 23.5%.
Median Sold Price Compared To Nearby Cities
Bedford Charter Township | $154.6K | $190.9K | +23.5% |
Battle Creek | $150K | $175.1K | +16.8% |
Pennfield Charter Township | $190K | $214K | +12.6% |
Housing Supply in Pennfield Charter Township, MI
How many homes are available in Pennfield Charter Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
33 | 29 | -12.1% |
Summary: The Pennfield Charter Township real estate market had 29 homes for sale in March 2024, a 12.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 6 | +50.0% |
3 Bedrooms | 18 | 13 | -27.8% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Pennfield Charter Township housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes decreased by 27.8%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Pennfield Charter Township in March 2024, up by 25.0% month-over-month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Pennfield Charter Township, MI
How long does it take to sell a home in Pennfield Charter Township, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
46 Days | 19 Days | -58.6% |
Summary: Homes in Pennfield Charter Township had an average of 19 days on market in Mar 2024, down by 58.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 10 homes were sold in Pennfield Charter Township; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.