Is Saranac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Saranac has remained a Seller's Market.
Key Takeaway
Saranac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saranac, MI
How much do homes in Saranac, MI cost?
Median Sold Price
$259,950
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Saranac have sold for 20.9% more than they did a year ago.
Summary: The median home sold price in Saranac was $259,950 in March 2024, up 20.9% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $349.9K | N/A |
| 2 Bedrooms | $167.5K | $162K | -3.3% |
| 3 Bedrooms | $205K | $250K | +22.0% |
| 4 Bedrooms | $334.2K | $319.9K | -4.3% |
| 5+ Bedrooms | $401.5K | $290K | -27.8% |
Summary: Saranac housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.3%, 3 bedroom homes increased by 22%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes decreased by 27.8%.
Median Sold Price Compared To Nearby Cities
| Saranac | $215K | $259.9K | +20.9% |
| Boston Township | $269K | $316.5K | +17.7% |
Housing Supply in Saranac, MI
How many homes are available in Saranac, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Summary: The Saranac real estate market had 13 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Saranac 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saranac, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Saranac in March 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Saranac, MI
How long does it take to sell a home in Saranac, MI?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Saranac are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Saranac; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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.