Is Montrose, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Montrose was a Buyer's Market.
Key Takeaway
Montrose is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montrose, MI
How much do homes in Montrose, MI cost?
Median Sold Price
$185,000
$122/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Montrose have sold for 34.8% more than they did a year ago.
Summary: The median home sold price in Montrose was $185,000 in April 2024, up 34.8% from last year, and the median price per square foot was $122.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $75K | N/A |
| 2 Bedrooms | $125K | $111K | -11.2% |
| 3 Bedrooms | $133.2K | $185K | +38.8% |
| 4 Bedrooms | $207K | $245K | +18.4% |
| 5+ Bedrooms | - | $172.5K | N/A |
Summary: Montrose 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 11.2%, 3 bedroom homes increased by 38.8%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Montrose | $137.2K | $185K | +34.8% |
| Montrose Charter Township | $175K | $187.8K | +7.3% |
Housing Supply in Montrose, MI
How many homes are available in Montrose, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 25 | +13.6% |
Summary: The Montrose real estate market had 25 homes for sale in April 2024, a 13.6% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Montrose 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 decreased by 16.7%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montrose, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Montrose in April 2024, up by 100.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Montrose, MI
How long does it take to sell a home in Montrose, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 6 Days | 22 Days | +269.4% |
Summary: Homes in Montrose had an average of 22 days on market in Apr 2024, up by 269.4% compared to last year.
Breakdown of Home Sale Times
4 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 Montrose are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Montrose; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
