Is Ogemaw County, 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, Ogemaw County has remained a Seller's Market.
Key Takeaway
Ogemaw County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ogemaw County, MI
How much do homes in Ogemaw County, MI cost?
Median Sold Price
$148,500
$115/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ogemaw County have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Ogemaw County was $148,500 in April 2024, up 4.6% from last year, and the median price per square foot was $115.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $79K | +12.9% |
| 2 Bedrooms | $90K | $100K | +11.1% |
| 3 Bedrooms | $162.5K | $185K | +13.8% |
| 4 Bedrooms | $262.5K | $230K | -12.4% |
| 5+ Bedrooms | $250K | $257.5K | +3.0% |
Summary: Ogemaw County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.9%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 12.4%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Counties
| Iosco County | $145K | $169K | +16.6% |
| Alcona County | $152.9K | $172K | +12.5% |
| Ogemaw County | $142K | $148.5K | +4.6% |
| Oscoda County | $120K | $112.5K | -6.3% |
Housing Supply in Ogemaw County, MI
How many homes are available in Ogemaw County, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 99 | +43.5% |
Summary: The Ogemaw County real estate market had 99 homes for sale in April 2024, a 43.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 7 | +40.0% |
| 2 Bedrooms | 23 | 32 | +39.1% |
| 3 Bedrooms | 34 | 48 | +41.2% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Ogemaw County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 39.1%, 3 bedroom homes increased by 41.2%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 19 | +72.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ogemaw County, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Ogemaw County in April 2024, up by 72.7% month-over-month. Of the 19 sold homes, 37% were sold under asking, 32% were sold at asking, and 32% were sold over asking.
Days on Market for Ogemaw County, MI
How long does it take to sell a home in Ogemaw County, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 157 Days | 69 Days | -55.6% |
Summary: Homes in Ogemaw County had an average of 69 days on market in Apr 2024, down by 55.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ogemaw County has remained consistent over time.
Summary: During April 2024, 19 homes were sold in Ogemaw County; 21% of homes were sold within 30 days, 58% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
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