Is Mount Olivet, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Mount Olivet was a Seller's Market.
Key Takeaway
Mount Olivet is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mount Olivet, MI
How much do homes in Mount Olivet, MI cost?
Median Sold Price
$53,500
$52/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mount Olivet have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Mount Olivet was $53,500 in May 2024, up 11.5% from last year, and the median price per square foot was $52.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $39.5K | $45K | +13.9% |
| 3 Bedrooms | $49K | $55.5K | +13.3% |
| 4 Bedrooms | $50K | $86K | +72.0% |
| 5+ Bedrooms | $37.5K | $65K | +73.3% |
Summary: Mount Olivet 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 13.9%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 72%, and 5+ bedroom homes increased by 73.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Von Steuben | $47K | $55K | +17.0% |
| Mount Olivet | $48K | $53.5K | +11.5% |
| Mohican Regent | $76.7K | $84.7K | +10.4% |
Housing Supply in Mount Olivet, MI
How many homes are available in Mount Olivet, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 90 | 119 | +32.2% |
Summary: The Mount Olivet real estate market had 119 homes for sale in May 2024, a 32.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 68 | 94 | +38.2% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Mount Olivet 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 increased by 6.7%, 3 bedroom homes increased by 38.2%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mount Olivet, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Mount Olivet in May 2024, the same as the previous month. Of the 12 sold homes, 67% were sold under asking, 25% were sold at asking, and 8% were sold over asking.
Days on Market for Mount Olivet, MI
How long does it take to sell a home in Mount Olivet, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 25 Days | +59.9% |
Summary: Homes in Mount Olivet had an average of 25 days on market in May 2024, up by 59.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mount Olivet are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Mount Olivet; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% 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.