Is Shepherd, 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, Shepherd was a Buyer's Market.
Key Takeaway
Shepherd is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shepherd, MI
How much do homes in Shepherd, MI cost?
Median Sold Price
$319,950
$104/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Shepherd have sold for 82.8% more than they did a month ago.
Summary: The median home sold price in Shepherd was $319,950 in March 2024, up 82.8% from last month, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $175K | $319.9K | +82.8% |
| 4 Bedrooms | - | $260.2K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Shepherd housing prices by bedroom type for March 2024 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 82.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Shepherd | $175K | $319.9K | +82.8% |
| Coe Township | $175K | $310K | +77.1% |
Housing Supply in Shepherd, MI
How many homes are available in Shepherd, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 16 | +77.8% |
Summary: The Shepherd real estate market had 16 homes for sale in March 2024, a 77.8% 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 | 1 | 2 | +100.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Shepherd 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 increased by 100%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
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
Key Takeaway
If you're buying a home in Shepherd, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Shepherd 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 Shepherd, MI
How long does it take to sell a home in Shepherd, MI?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 Days | 41 Days | +38.3% |
Summary: Homes in Shepherd had an average of 41 days on market in Mar 2024, up by 38.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Shepherd are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 4 homes were sold in Shepherd; 75% of homes were sold within 30 days, 0% 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.