Is Shepherd, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Shepherd is a seller's market

Buyer's
Market

Difference Since June 2021

Since last year, Shepherd has remained a Seller's Market.

Key Takeaway

Shepherd is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Shepherd, MI cost?

Median Sold Price

$139,900

$97/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2021

-$2,600(-1.8%)

Key Takeaway

Homes in Shepherd have sold for 1.8% less than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJun 2021Jun 2022%
1 --
N/A
2 $106.2K$115K
+8.2%
3 $110K$134.9K
+22.6%
4 $151.6K$208K
+37.2%
5+ $225K$166K
-26.2%

Median Sold Price Compared To Nearby Cities

Coe Township
+4.3%
Shepherd
-1.8%

How many homes are available in Shepherd, MI?

Number of Homes For Sale

May 2022Jun 2022%
32-33.3%

Homes For Sale By Bedroom Count

# BEDSMay 2022Jun 2022%
1 00
0.0%
2 00
0.0%
3 11
0.0%
4 11
0.0%
5+ 10
-100.0%

Number of Homes Sold

May 2022Jun 2022%
110.0%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Shepherd, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Average Sale Time

Jun 2021Jun 2022%
132 Days44 Days-66.7%

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Shepherd has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Shepherd, MI

There are 2 homes are for sale in Shepherd, MI real estate market. The number of homes for sale in Shepherd, MI decreased by 33.3% between May 2022 and June 2022. Listings spent 44 days on the market in June 2022, and had a median list price of $139,900 during the same period. From May 2022 through June 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 0% more expensive, the cost of 2 bedrooms properties went up by 8.2%, prices of 3 bedrooms properties increased by 22.6%, 4 bedrooms properties became 37.2% more expensive, 5 bedrooms properties became 26.2% more cheaper. Volume of homes for sale in this real estate market have seen the following changes: number of 1 bedroom homes remained the same, number of 2 bedrooms homes remained the same, 3 bedrooms homes inventory did not change, the quantity of 4 bedrooms homes have not changed, 5 bedrooms homes became 100% less available. Over 1 listings were sold over their listed price in June 2022 in Shepherd, MI. In the same period over 0 listings were sold below the listed price and 0 listings were sold for the listed price.