Is Tecumseh, 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, Tecumseh has remained a Seller's Market.
Housing Prices in Tecumseh, MI
How much do homes in Tecumseh, MI cost?
Median Sold Price
$256,000
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Tecumseh was $256,000 in March 2024, up 16.4% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $50K | N/A |
2 Bedrooms | $171.5K | $207K | +20.7% |
3 Bedrooms | $215K | $246K | +14.4% |
4 Bedrooms | $277.4K | $271K | -2.3% |
5+ Bedrooms | $335K | $387K | +15.5% |
Summary: Tecumseh 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 20.7%, 3 bedroom homes increased by 14.4%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 15.5%.
Median Sold Price Compared To Nearby Cities
Tecumseh | $220K | $256K | +16.4% |
Tecumseh Township | $225.5K | $256K | +13.5% |
Raisin Township | $253K | $270K | +6.7% |
Housing Supply in Tecumseh, MI
How many homes are available in Tecumseh, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
43 | 52 | +20.9% |
Summary: The Tecumseh real estate market had 52 homes for sale in March 2024, a 20.9% 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 | 5 | 6 | +20.0% |
3 Bedrooms | 24 | 32 | +33.3% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Tecumseh 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 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
10 | 14 | +40.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Tecumseh in March 2024, up by 40.0% month-over-month. Of the 14 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Tecumseh, MI
How long does it take to sell a home in Tecumseh, MI?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 35 Days | +121.0% |
Summary: Homes in Tecumseh had an average of 35 days on market in Mar 2024, up by 121% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in Tecumseh; 64% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.