Is Sheldon Park, 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, Sheldon Park has remained a Seller's Market.
Key Takeaway
Sheldon Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sheldon Park, MI
How much do homes in Sheldon Park, MI cost?
Median Sold Price
$145,000
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Sheldon Park have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Sheldon Park was $145,000 in March 2024, up 6.9% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $104K | N/A |
| 2 Bedrooms | $107.5K | $133K | +23.7% |
| 3 Bedrooms | $152K | $152.1K | 0.1% |
| 4 Bedrooms | $90.8K | $175K | +92.7% |
| 5+ Bedrooms | $169.8K | - | N/A |
Summary: Sheldon Park 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 increased by 23.7%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 92.7%, and 5+ bedroom homes did not change.
Housing Supply in Sheldon Park, MI
How many homes are available in Sheldon Park, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Summary: The Sheldon Park real estate market had 13 homes for sale in March 2024, a 18.8% 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 | 2 | -50.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sheldon Park 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 decreased by 50%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sheldon Park, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Sheldon Park in March 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.
Days on Market for Sheldon Park, MI
How long does it take to sell a home in Sheldon Park, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 16 Days | -51.8% |
Summary: Homes in Sheldon Park had an average of 16 days on market in Mar 2024, down by 51.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sheldon Park are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Sheldon Park; 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.
