Is Burr Oak, 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, Burr Oak has remained a Seller's Market.
Key Takeaway
Burr Oak is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burr Oak, MI
How much do homes in Burr Oak, MI cost?
Median Sold Price
$130,000
$103/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Burr Oak have sold for 22% less than they did a month ago.
Summary: The median home sold price in Burr Oak was $130,000 in April 2024, down 22% from last month, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $240K | - | N/A |
| 3 Bedrooms | $100K | - | N/A |
| 4 Bedrooms | $166.7K | $130K | -22.0% |
| 5+ Bedrooms | - | - | N/A |
Summary: Burr Oak 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 decreased by 22%, and 5+ bedroom homes did not change.
Housing Supply in Burr Oak, MI
How many homes are available in Burr Oak, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Summary: The Burr Oak real estate market had 4 homes for sale in April 2024, a 20.0% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 1 | 3 | +200.0% |
| 4 Bedrooms | 3 | 1 | -66.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Burr Oak 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 100%, 3 bedroom homes increased by 200%, 4 bedroom homes decreased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 1 | -75.0% |
Asking Price vs. Sold Price
0 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 Burr Oak, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Burr Oak in April 2024, down by 75.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Burr Oak, MI
How long does it take to sell a home in Burr Oak, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 102 Days | 86 Days | -16.3% |
Summary: Homes in Burr Oak had an average of 86 days on market in Apr 2024, down by 16.3% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Burr Oak has remained consistent over time.
Summary: During April 2024, 1 homes were sold in Burr Oak; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
