Is East English Village, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, East English Village has remained a Seller's Market.
Key Takeaway
East English Village is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East English Village, MI
How much do homes in East English Village, MI cost?
Median Sold Price
$182,500
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East English Village have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in East English Village was $182,500 in May 2024, up 2.5% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $119.5K | N/A |
| 3 Bedrooms | $176K | $181.2K | +3.0% |
| 4 Bedrooms | $189K | $203K | +7.4% |
| 5+ Bedrooms | $128K | $250K | +95.3% |
Summary: East English Village 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 did not change, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 95.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Upper East | $50K | $55.6K | +11.3% |
| Denby | $52.5K | $58K | +10.5% |
| East English Village | $178K | $182.5K | +2.5% |
| Finney | $124.7K | $116K | -7.0% |
| Lower East | $124.9K | $110K | -11.9% |
Housing Supply in East English Village, MI
How many homes are available in East English Village, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 27 | +28.6% |
Summary: The East English Village real estate market had 27 homes for sale in May 2024, a 28.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 15 | 20 | +33.3% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The East English Village 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East English Village, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in East English Village in May 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for East English Village, MI
How long does it take to sell a home in East English Village, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 64 Days | 17 Days | -72.1% |
Summary: Homes in East English Village had an average of 17 days on market in May 2024, down by 72.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East English Village are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in East English Village; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% 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.