Is Weidman, MI a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Weidman is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Weidman has remained a Seller's Market.

Key Takeaway

Weidman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Weidman, MI

How much do homes in Weidman, MI cost?

Median Sold Price

$182,500

$138/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$12,500(+7.4%)

Key Takeaway

Homes in Weidman have sold for 7.4% more than they did a year ago.

Summary: The median home sold price in Weidman was $182,500 in September 2024, up 7.4% from last year, and the median price per square foot was $138.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $129.4K$150K
+15.9%
3 $151.5K$175K
+15.5%
4 $232.5K$370K
+59.1%
5+ $1.1M$933.3K
-20.6%

Summary: Weidman housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.9%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 59.1%, and 5+ bedroom homes decreased by 20.6%.

Median Sold Price Compared To Nearby Cities

Lake Isabella
+40.4%
Weidman
+7.4%
Sherman Township
-4.9%

Housing Supply in Weidman, MI

How many homes are available in Weidman, MI?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3038+26.7%

Summary: The Weidman real estate market had 38 homes for sale in September 2024, a 26.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 77
0.0%
3 1721
+23.5%
4 48
+100.0%
5+ 22
0.0%

Summary: The Weidman housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
48+100.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Weidman, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in Weidman in September 2024, up by 100.0% month-over-month. Of the 7 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Weidman, MI

How long does it take to sell a home in Weidman, MI?

Average Sale Time

Sep 2023Sep 2024CHANGE
63 Days52 Days-17.3%

Summary: Homes in Weidman had an average of 52 days on market in Sep 2024, down by 17.3% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Weidman has remained consistent over time.

Summary: During September 2024, 8 homes were sold in Weidman; 25% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated Sep 1, 2024

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