Is Buchanan Township, 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, Buchanan Township has remained a Seller's Market.
Housing Prices in Buchanan Township, MI
How much do homes in Buchanan Township, MI cost?
Median Sold Price
$225,000
$167/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since April 2023.
Summary: The median home sold price in Buchanan Township was $225,000 in April 2024, the same as last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.5K | - | N/A |
2 Bedrooms | $135K | $163.5K | +21.1% |
3 Bedrooms | $235K | $227.5K | -3.2% |
4 Bedrooms | $318K | $335K | +5.3% |
5+ Bedrooms | $205K | $247.5K | +20.7% |
Summary: Buchanan Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.1%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 20.7%.
Median Sold Price Compared To Nearby Cities
Buchanan | $170K | $225K | +32.4% |
Niles Township | $165K | $185.1K | +12.2% |
Oronoko Charter Township | $265K | $278K | +4.9% |
Buchanan Township | $225K | $225K | 0.0% |
Bertrand Township | $404.9K | $301K | -25.7% |
Housing Supply in Buchanan Township, MI
How many homes are available in Buchanan Township, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
37 | 35 | -5.4% |
Summary: The Buchanan Township real estate market had 35 homes for sale in April 2024, a 5.4% decrease 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 | 9 | 7 | -22.2% |
3 Bedrooms | 16 | 17 | +6.3% |
4 Bedrooms | 8 | 7 | -12.5% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Buchanan 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 decreased by 22.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 11 | +10.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Buchanan Township in April 2024, up by 10.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 18% were sold at asking, and 36% were sold over asking.
Days on Market for Buchanan Township, MI
How long does it take to sell a home in Buchanan Township, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 31 Days | +4.8% |
Summary: Homes in Buchanan Township had an average of 31 days on market in Apr 2024, up by 4.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 11 homes were sold in Buchanan Township; 45% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.