Is Regent Park, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Regent Park was a Seller's Market.
Key Takeaway
Regent Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Regent Park, MI
How much do homes in Regent Park, MI cost?
Median Sold Price
$61,000
$64/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Regent Park have sold for 5.2% more than they did a year ago.
Summary: The median home sold price in Regent Park was $61,000 in April 2024, up 5.2% from last year, and the median price per square foot was $64.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $37K | $55K | +48.6% |
| 3 Bedrooms | $62.7K | $68K | +8.5% |
| 4 Bedrooms | $83.5K | $52.2K | -37.4% |
| 5+ Bedrooms | - | $152.5K | N/A |
Summary: Regent Park 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 48.6%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 37.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Mohican Regent | $75.5K | $84.7K | +12.3% |
| Mount Olivet | $47.5K | $52.5K | +10.5% |
| Upper East | $50K | $55K | +10.0% |
| Regent Park | $58K | $61K | +5.2% |
| Burbank | $51.3K | $52.8K | +2.9% |
Housing Supply in Regent Park, MI
How many homes are available in Regent Park, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 34 | 48 | +41.2% |
Summary: The Regent Park real estate market had 48 homes for sale in April 2024, a 41.2% 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 | 6 | 7 | +16.7% |
| 3 Bedrooms | 26 | 39 | +50.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Regent Park 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 increased by 16.7%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Regent Park, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Regent Park in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 14% were sold under asking, 57% were sold at asking, and 29% were sold over asking.
Days on Market for Regent Park, MI
How long does it take to sell a home in Regent Park, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 97 Days | +2328.6% |
Summary: Homes in Regent Park had an average of 97 days on market in Apr 2024, up by 2328.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Regent Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Regent Park; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% 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.