Is Michigan Center, 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, Michigan Center has remained a Seller's Market.
Key Takeaway
Michigan Center is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Michigan Center, MI
How much do homes in Michigan Center, MI cost?
Median Sold Price
$188,500
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Michigan Center have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Michigan Center was $188,500 in April 2024, up 5.9% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.5K | - | N/A |
| 2 Bedrooms | $168.4K | $156.4K | -7.2% |
| 3 Bedrooms | $195K | $215K | +10.3% |
| 4 Bedrooms | $169.9K | $197.8K | +16.4% |
| 5+ Bedrooms | $201.5K | - | N/A |
Summary: Michigan Center housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Leoni Township | $200K | $213.5K | +6.8% |
| Michigan Center | $177.9K | $188.5K | +5.9% |
Housing Supply in Michigan Center, MI
How many homes are available in Michigan Center, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Summary: The Michigan Center real estate market had 10 homes for sale in April 2024, a 66.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Michigan Center housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
3 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 Michigan Center, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Michigan Center in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for Michigan Center, MI
How long does it take to sell a home in Michigan Center, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 106 Days | 32 Days | -69.8% |
Summary: Homes in Michigan Center had an average of 32 days on market in Apr 2024, down by 69.8% compared to last year.
Breakdown of Home Sale Times
2 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 Michigan Center are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Michigan Center; 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.
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.