Is Menominee, 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, Menominee has remained a Seller's Market.
Housing Prices in Menominee, MI
How much do homes in Menominee, MI cost?
Median Sold Price
$149,000
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Menominee was $149,000 in May 2024, up 14.6% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $123.9K | N/A |
2 Bedrooms | $119.9K | $130K | +8.4% |
3 Bedrooms | $130K | $160K | +23.1% |
4 Bedrooms | $173.5K | $167.8K | -3.2% |
5+ Bedrooms | $173.5K | $201.5K | +16.1% |
Summary: Menominee 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 8.4%, 3 bedroom homes increased by 23.1%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 16.1%.
Median Sold Price Compared To Nearby Cities
Menominee Township | $130K | $150K | +15.4% |
Menominee | $130K | $149K | +14.6% |
Marinette | $149K | $155K | +4.0% |
Housing Supply in Menominee, MI
How many homes are available in Menominee, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
40 | 44 | +10.0% |
Summary: The Menominee real estate market had 44 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 10 | 10 | 0.0% |
3 Bedrooms | 23 | 25 | +8.7% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Menominee housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 8 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Menominee in May 2024, down by 33.3% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Menominee, MI
How long does it take to sell a home in Menominee, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 69 Days | +61.6% |
Summary: Homes in Menominee had an average of 69 days on market in May 2024, up by 61.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Menominee; 0% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.