Is Vernon Township, 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, Vernon Township has remained a Seller's Market.
Housing Prices in Vernon Township, MI
How much do homes in Vernon Township, MI cost?
Median Sold Price
$182,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Vernon Township was $182,000 in March 2024, down 2.7% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $27.7K | - | N/A |
2 Bedrooms | $163.5K | $128K | -21.7% |
3 Bedrooms | $192.5K | $183K | -4.9% |
4 Bedrooms | $237.8K | $222K | -6.7% |
5+ Bedrooms | $587K | $294K | -49.9% |
Summary: Vernon Township 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 21.7%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes decreased by 49.9%.
Median Sold Price Compared To Nearby Cities
Durand | $157.7K | $160K | +1.4% |
Vernon Township | $187K | $182K | -2.7% |
Gaines Township | $252.5K | $235.4K | -6.8% |
Housing Supply in Vernon Township, MI
How many homes are available in Vernon Township, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 6 | -33.3% |
Summary: The Vernon Township real estate market had 6 homes for sale in March 2024, a 33.3% decrease 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 | 2 | 0 | -100.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Vernon Township 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 decreased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Vernon Township in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Vernon Township, MI
How long does it take to sell a home in Vernon Township, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 2 homes were sold in Vernon Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.