Is Iron County, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Iron County was a Buyer's Market.
Key Takeaway
Iron County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Iron County, MI
How much do homes in Iron County, MI cost?
Median Sold Price
$99,900
$115/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Iron County have sold for 30.6% less than they did a month ago.
Summary: The median home sold price in Iron County was $99,900 in April 2024, down 30.6% from last month, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $60K | N/A |
| 2 Bedrooms | - | $73.5K | N/A |
| 3 Bedrooms | $116.5K | $142.5K | +22.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | $171.5K | - | N/A |
Summary: Iron County 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 increased by 22.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
| Forest County | $100K | $260K | +160.0% |
| Iron County | $144K | $99.9K | -30.6% |
Housing Supply in Iron County, MI
How many homes are available in Iron County, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 33 | +50.0% |
Summary: The Iron County real estate market had 33 homes for sale in April 2024, a 50.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 4 | 8 | +100.0% |
| 3 Bedrooms | 10 | 14 | +40.0% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Iron County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 9 | +350.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iron County, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Iron County in April 2024, up by 350.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.
Days on Market for Iron County, MI
How long does it take to sell a home in Iron County, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 204 Days | 105 Days | -48.3% |
Summary: Homes in Iron County had an average of 105 days on market in Apr 2024, down by 48.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Iron County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 9 homes were sold in Iron County; 33% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 56% 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.