Is Shelbyville, 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, Shelbyville has remained a Seller's Market.
Housing Prices in Shelbyville, MI
How much do homes in Shelbyville, MI cost?
Median Sold Price
$291,200
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Shelbyville was $291,200 in March 2024, down 3.4% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $204K | +2.0% |
2 Bedrooms | $300K | $278.7K | -7.1% |
3 Bedrooms | $301.6K | $270K | -10.5% |
4 Bedrooms | $378K | $490K | +29.6% |
5+ Bedrooms | $228.5K | $271.8K | +18.9% |
Summary: Shelbyville housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes increased by 29.6%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
Orangeville Township | $278.7K | $322.5K | +15.7% |
Wayland Township | $290K | $313.5K | +8.1% |
Yankee Springs Township | $369.5K | $371K | 0.4% |
Shelbyville | $301.6K | $291.2K | -3.4% |
Housing Supply in Shelbyville, MI
How many homes are available in Shelbyville, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
8 | 8 | 0.0% |
Summary: The Shelbyville real estate market had 8 homes for sale in March 2024, the same as 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 | 3 | 4 | +33.3% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Shelbyville 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Shelbyville in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Shelbyville, MI
How long does it take to sell a home in Shelbyville, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 8 Days | -80.5% |
Summary: Homes in Shelbyville had an average of 8 days on market in Mar 2024, down by 80.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Shelbyville; 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.