Is Tawas City, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Tawas City is a seller's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Tawas City, MI

How much do homes in Tawas City, MI cost?

Median Sold Price

$185,800

$139/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$14,800(+8.7%)

Key Takeaway

Homes in Tawas City have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Tawas City was $185,800 in September 2024, up 8.7% from last year, and the median price per square foot was $139.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $40K$55K
+37.5%
2 $170.7K$201K
+17.7%
3 $171K$159K
-7.0%
4 $522.2K$245K
-53.1%
5+ $145K$247.8K
+70.9%

Summary: Tawas City housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 17.7%, 3 bedroom homes decreased by 7%, 4 bedroom homes decreased by 53.1%, and 5+ bedroom homes increased by 70.9%.

Median Sold Price Compared To Nearby Cities

Baldwin Township
+18.0%
East Tawas
+12.7%
Tawas City
+8.7%

Housing Supply in Tawas City, MI

How many homes are available in Tawas City, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
4037-7.5%

Summary: The Tawas City real estate market had 37 homes for sale in September 2024, a 7.5% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1111
0.0%
3 2118
-14.3%
4 77
0.0%
5+ 11
0.0%

Summary: The Tawas City housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
78+14.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Tawas City, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Tawas City in September 2024, up by 14.3% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for Tawas City, MI

How long does it take to sell a home in Tawas City, MI?

Average Sale Time

Sep 2023Sep 2024CHANGE
39 Days66 Days+67.3%

Summary: Homes in Tawas City had an average of 66 days on market in Sep 2024, up by 67.3% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Tawas City has remained consistent over time.

Summary: During September 2024, 8 homes were sold in Tawas City; 13% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.

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

Report Updated 30 Days Ago

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