Is Bay County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Bay County has remained a Seller's Market.
Key Takeaway
Bay County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bay County, MI
How much do homes in Bay County, MI cost?
Median Sold Price
$140,000
$110/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Bay County have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Bay County was $140,000 in April 2024, up 3.5% from last year, and the median price per square foot was $110.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $66K | $55.5K | -15.9% |
| 2 Bedrooms | $95K | $115K | +21.1% |
| 3 Bedrooms | $147K | $160.2K | +9.0% |
| 4 Bedrooms | $142.5K | $149.3K | +4.8% |
| 5+ Bedrooms | $130K | $180K | +38.5% |
Summary: Bay County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.9%, 2 bedroom homes increased by 21.1%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 38.5%.
Median Sold Price Compared To Nearby Counties
| Saginaw County | $143.4K | $159.2K | +11.0% |
| Bay County | $135.2K | $140K | +3.5% |
| Tuscola County | $165K | $165.1K | 0.1% |
| Gladwin County | $179.5K | $170K | -5.3% |
Housing Supply in Bay County, MI
How many homes are available in Bay County, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 168 | 218 | +29.8% |
Summary: The Bay County real estate market had 218 homes for sale in April 2024, a 29.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 26 | 29 | +11.5% |
| 3 Bedrooms | 79 | 108 | +36.7% |
| 4 Bedrooms | 46 | 61 | +32.6% |
| 5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The Bay County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 11.5%, 3 bedroom homes increased by 36.7%, 4 bedroom homes increased by 32.6%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 56 | +75.0% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay County, you could pay more than the asking price. 44.6% of homes here sold above asking price last month.
Summary: A total of 56 homes were sold or pending in Bay County in April 2024, up by 75.0% month-over-month. Of the 56 sold homes, 41% were sold under asking, 14% were sold at asking, and 45% were sold over asking.
Days on Market for Bay County, MI
How long does it take to sell a home in Bay County, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 12 Days | 41 Days | +226.4% |
Summary: Homes in Bay County had an average of 41 days on market in Apr 2024, up by 226.4% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bay County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 56 homes were sold in Bay County; 61% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 16% 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.