Is Three Oaks, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Three Oaks was a Seller's Market.
Key Takeaway
Three Oaks is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Three Oaks, MI
How much do homes in Three Oaks, MI cost?
Median Sold Price
$301,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Three Oaks have sold for 19.9% more than they did a year ago.
Summary: The median home sold price in Three Oaks was $301,000 in March 2024, up 19.9% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $1.8M | N/A |
| 2 Bedrooms | $172.5K | $277.5K | +60.9% |
| 3 Bedrooms | $252.5K | $272.2K | +7.8% |
| 4 Bedrooms | $298K | $457.5K | +53.5% |
| 5+ Bedrooms | $63.5K | - | N/A |
Summary: Three Oaks 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 60.9%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 53.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Three Oaks | $251K | $301K | +19.9% |
| Three Oaks Township | $251K | $301K | +19.9% |
Housing Supply in Three Oaks, MI
How many homes are available in Three Oaks, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Summary: The Three Oaks real estate market had 19 homes for sale in March 2024, a 26.7% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Three Oaks 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 decreased by 25%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Three Oaks, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Three Oaks in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Three Oaks, MI
How long does it take to sell a home in Three Oaks, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 18 Days | 16 Days | -11.1% |
Summary: Homes in Three Oaks had an average of 16 days on market in Mar 2024, down by 11.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Three Oaks are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Three Oaks; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
