Is Ray, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Ray was a Seller's Market.
Key Takeaway
Ray is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Ray, MI
How much do homes in Ray, MI cost?
Median Sold Price
$435,000
$187/sqft
Based on all homes sold in November 2023.
Difference Since Last Month
Key Takeaway
Homes in Ray have sold for 54.3% more than they did a month ago.
Summary: The median home sold price in Ray was $435,000 in November 2023, up 54.3% from last month, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $132.5K | - | N/A |
| 3 Bedrooms | $433.5K | $435K | 0.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Ray housing prices by bedroom type for November 2023 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 0.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Ray | $282K | $435K | +54.3% |
| Ray Township | $282K | $435K | +54.3% |
Housing Supply in Ray, MI
How many homes are available in Ray, MI?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The Ray real estate market had 10 homes for sale in November 2023, the same as October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Ray housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ray, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Ray in November 2023, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Ray, MI
How long does it take to sell a home in Ray, MI?
Average Sale Time
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 50 Days | 118 Days | +132.9% |
Summary: Homes in Ray had an average of 118 days on market in Nov 2023, up by 132.9% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Ray are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2023, 1 homes were sold in Ray; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.