Is Nolan, 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, Nolan has remained a Buyer's Market.
Key Takeaway
Nolan is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Nolan, MI
How much do homes in Nolan, MI cost?
Median Sold Price
$50,000
$46/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Nolan have sold for 9.9% more than they did a year ago.
Summary: The median home sold price in Nolan was $50,000 in May 2024, up 9.9% from last year, and the median price per square foot was $46.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $39.9K | $43K | +7.8% |
| 3 Bedrooms | $46K | $50K | +8.7% |
| 4 Bedrooms | $45K | $64.2K | +42.8% |
| 5+ Bedrooms | $80K | $45K | -43.8% |
Summary: Nolan 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 7.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 42.8%, and 5+ bedroom homes decreased by 43.8%.
Median Sold Price Compared To Nearby Neighborhoods
| North East | $50.6K | $59.4K | +17.5% |
| Pershing | $48.5K | $55K | +13.4% |
| Nolan | $45.5K | $50K | +9.9% |
Housing Supply in Nolan, MI
How many homes are available in Nolan, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 47 | 51 | +8.5% |
Summary: The Nolan real estate market had 51 homes for sale in May 2024, a 8.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 27 | 30 | +11.1% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Nolan housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nolan, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Nolan in May 2024, down by 45.5% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Nolan, MI
How long does it take to sell a home in Nolan, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 13 Days | -37.9% |
Summary: Homes in Nolan had an average of 13 days on market in May 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nolan are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Nolan; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
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.