Is Temperance, 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, Temperance has remained a Seller's Market.
Key Takeaway
Temperance is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Temperance, MI
How much do homes in Temperance, MI cost?
Median Sold Price
$255,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Temperance have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in Temperance was $255,000 in March 2024, down 1.7% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $70K | N/A |
| 2 Bedrooms | $162.7K | $152.2K | -6.5% |
| 3 Bedrooms | $228.5K | $235K | +2.8% |
| 4 Bedrooms | $301.7K | $315K | +4.4% |
| 5+ Bedrooms | $325K | $462.5K | +42.3% |
Summary: Temperance 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 decreased by 6.5%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 42.3%.
Median Sold Price Compared To Nearby Cities
| Erie | $191.2K | $205K | +7.2% |
| Temperance | $259.5K | $255K | -1.7% |
| Bedford Township | $259.3K | $255K | -1.7% |
| Lambertville | $259.9K | $255K | -1.9% |
Housing Supply in Temperance, MI
How many homes are available in Temperance, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 | 48 | 0.0% |
Summary: The Temperance real estate market had 48 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 31 | 30 | -3.2% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Temperance 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 25%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 24 | +100.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Temperance, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Temperance in March 2024, up by 100.0% month-over-month. Of the 24 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Temperance, MI
How long does it take to sell a home in Temperance, MI?
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Temperance are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in Temperance; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 13% 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.