Is Mendon, 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, Mendon has remained a Seller's Market.
Key Takeaway
Mendon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mendon, MI
How much do homes in Mendon, MI cost?
Median Sold Price
$154,537
$113/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mendon have sold for 6.1% less than they did a year ago.
Summary: The median home sold price in Mendon was $154,537 in April 2024, down 6.1% from last year, and the median price per square foot was $113.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.9K | $113K | -4.2% |
| 2 Bedrooms | $142.9K | $151.1K | +5.7% |
| 3 Bedrooms | $184.7K | $152K | -17.7% |
| 4 Bedrooms | $204.5K | $205K | 0.2% |
| 5+ Bedrooms | - | $265K | N/A |
Summary: Mendon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes increased by 5.7%, 3 bedroom homes decreased by 17.7%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Mendon | $164.5K | $154.5K | -6.1% |
| Mendon Township | $204.5K | $161K | -21.3% |
Housing Supply in Mendon, MI
How many homes are available in Mendon, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Summary: The Mendon real estate market had 6 homes for sale in April 2024, a 20.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Mendon housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendon, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Mendon in April 2024, up by 100.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Mendon, MI
How long does it take to sell a home in Mendon, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mendon are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Mendon; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
