Is Utica, 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, Utica was a Seller's Market.
Key Takeaway
Utica is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Utica, MI
How much do homes in Utica, MI cost?
Median Sold Price
$492,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Utica have sold for 82.4% more than they did a year ago.
Summary: The median home sold price in Utica was $492,500 in March 2024, up 82.4% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $92.3K | $40K | -56.7% |
| 2 Bedrooms | $92.3K | $217.4K | +135.6% |
| 3 Bedrooms | $273K | $377.5K | +38.3% |
| 4 Bedrooms | $628.5K | $667K | +6.1% |
| 5+ Bedrooms | $525.4K | $841.4K | +60.1% |
Summary: Utica housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 56.7%, 2 bedroom homes increased by 135.6%, 3 bedroom homes increased by 38.3%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 60.1%.
Median Sold Price Compared To Nearby Cities
| Utica | $270K | $492.5K | +82.4% |
| Sterling Heights | $280K | $290.4K | +3.7% |
| Shelby Charter Township | $335K | $339.9K | +1.5% |
Housing Supply in Utica, MI
How many homes are available in Utica, MI?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 21 | 24 | +14.3% |
Summary: The Utica real estate market had 24 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Utica housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Utica, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Utica in March 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Utica, MI
How long does it take to sell a home in Utica, MI?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 185 Days | 75 Days | -59.1% |
Summary: Homes in Utica had an average of 75 days on market in Mar 2024, down by 59.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Utica has remained consistent over time.
Summary: During March 2024, 4 homes were sold in Utica; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% 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.