Is Banks Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Banks Township was a Neutral Market.
Key Takeaway
Banks Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Banks Township, MI
How much do homes in Banks Township, MI cost?
Median Sold Price
$283,750
$183/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Banks Township have sold for 46% less than they did a month ago.
Summary: The median home sold price in Banks Township was $283,750 in April 2024, down 46% from last month, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $289K | N/A |
| 3 Bedrooms | $525K | - | N/A |
| 4 Bedrooms | - | $278.5K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Banks Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Central Lake Township | $316K | $310K | -1.9% |
| Marion Township | $236.9K | $207.5K | -12.4% |
| Banks Township | $525K | $283.7K | -46.0% |
| Ellsworth | $525K | $283.7K | -46.0% |
Housing Supply in Banks Township, MI
How many homes are available in Banks Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Summary: The Banks Township real estate market had 10 homes for sale in April 2024, a 66.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 5 | +66.7% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Banks Township housing inventory by bedroom type for April 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 66.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Banks Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Banks Township in April 2024, up by 100.0% 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 Banks Township, MI
We’re sorry, we don't have information for this market at the moment
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