Is Durfee, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Durfee was a Seller's Market.
Key Takeaway
Durfee is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Durfee, MI
How much do homes in Durfee, MI cost?
Median Sold Price
$151,500
$71/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Durfee have sold for 0.7% less than they did a year ago.
Summary: The median home sold price in Durfee was $151,500 in May 2024, down 0.7% from last year, and the median price per square foot was $71.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $22K | N/A |
| 2 Bedrooms | $4K | $45K | +1025.0% |
| 3 Bedrooms | $61K | $50K | -18.0% |
| 4 Bedrooms | $205K | $178.2K | -13.1% |
| 5+ Bedrooms | $276K | $319K | +15.6% |
Summary: Durfee housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1025%, 3 bedroom homes decreased by 18%, 4 bedroom homes decreased by 13.1%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Rosa Parks | $104K | $154.5K | +48.6% |
| Durfee | $152.5K | $151.5K | -0.7% |
| Midtown | $145K | $142K | -2.1% |
| Middle Woodward | $235K | $199.9K | -14.9% |
Housing Supply in Durfee, MI
How many homes are available in Durfee, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 78 | +16.4% |
Summary: The Durfee real estate market had 78 homes for sale in May 2024, a 16.4% 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 28 | 35 | +25.0% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 20 | 21 | +5.0% |
Summary: The Durfee 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 increased by 25%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes increased by 5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 8 | -20.0% |
Asking Price vs. Sold Price
7 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 Durfee, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Durfee in May 2024, down by 20.0% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.
Days on Market for Durfee, MI
How long does it take to sell a home in Durfee, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 115 Days | +189.6% |
Summary: Homes in Durfee had an average of 115 days on market in May 2024, up by 189.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Durfee are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 8 homes were sold in Durfee; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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.