Is Boston-Edison, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Boston-Edison has remained a Seller's Market.
Key Takeaway
Boston-Edison is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Boston-Edison, MI
How much do homes in Boston-Edison, MI cost?
Median Sold Price
$335,000
$124/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Boston-Edison have sold for 2% less than they did a month ago.
Summary: The median home sold price in Boston-Edison was $335,000 in May 2024, down 2% from last month, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $365K | $265K | -27.4% |
| 4 Bedrooms | $365K | $213.2K | -41.6% |
| 5+ Bedrooms | $312K | $425K | +36.2% |
Summary: Boston-Edison housing prices by bedroom type for May 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 decreased by 27.4%, 4 bedroom homes decreased by 41.6%, and 5+ bedroom homes increased by 36.2%.
Housing Supply in Boston-Edison, MI
How many homes are available in Boston-Edison, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 29 | 30 | +3.4% |
Summary: The Boston-Edison real estate market had 30 homes for sale in May 2024, a 3.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The Boston-Edison housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Boston-Edison, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Boston-Edison in May 2024, down by 25.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Boston-Edison, MI
How long does it take to sell a home in Boston-Edison, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 88 Days | +144.2% |
Summary: Homes in Boston-Edison had an average of 88 days on market in May 2024, up by 144.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Boston-Edison are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 6 homes were sold in Boston-Edison; 17% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
