Is Union Pier, 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, Union Pier was a Seller's Market.
Key Takeaway
Union Pier is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Union Pier, MI
How much do homes in Union Pier, MI cost?
Median Sold Price
$775,000
$531/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Union Pier have sold for 21.6% more than they did a year ago.
Summary: The median home sold price in Union Pier was $775,000 in March 2024, up 21.6% from last year, and the median price per square foot was $531.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $310K | $290.5K | -6.3% |
| 2 Bedrooms | $450K | $569.5K | +26.6% |
| 3 Bedrooms | $621.1K | $650.5K | +4.7% |
| 4 Bedrooms | $775K | $1.1M | +51.6% |
| 5+ Bedrooms | $1.3M | $1.5M | +16.0% |
Summary: Union Pier housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 26.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 51.6%, and 5+ bedroom homes increased by 16%.
Median Sold Price Compared To Nearby Cities
| Union Pier | $637.3K | $775K | +21.6% |
| Three Oaks Township | $251K | $301K | +19.9% |
| Chikaming Township | $600K | $601K | 0.2% |
| New Buffalo Township | $651.3K | $600.5K | -7.8% |
Housing Supply in Union Pier, MI
How many homes are available in Union Pier, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Summary: The Union Pier real estate market had 10 homes for sale in March 2024, a 11.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Union Pier 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 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, 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
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Union Pier, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Union Pier in March 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Union Pier, MI
How long does it take to sell a home in Union Pier, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 113 Days | +57.7% |
Summary: Homes in Union Pier had an average of 113 days on market in Mar 2024, up by 57.7% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Union Pier are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 1 homes were sold in Union Pier; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
