Is Resort Township, 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, Resort Township has remained a Seller's Market.
Key Takeaway
Resort Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Resort Township, MI
How much do homes in Resort Township, MI cost?
Median Sold Price
$515,000
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Resort Township have sold for 11.2% less than they did a year ago.
Summary: The median home sold price in Resort Township was $515,000 in April 2024, down 11.2% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $250K | $520K | +108.0% |
| 3 Bedrooms | $435.2K | $475K | +9.1% |
| 4 Bedrooms | $639.9K | $440K | -31.2% |
| 5+ Bedrooms | $2.4M | $3.7M | +53.1% |
Summary: Resort Township 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 increased by 108%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 31.2%, and 5+ bedroom homes increased by 53.1%.
Median Sold Price Compared To Nearby Cities
| Petoskey | $432.4K | $430.5K | -0.4% |
| Bear Creek Township | $400K | $369K | -7.8% |
| Resort Township | $580K | $515K | -11.2% |
Housing Supply in Resort Township, MI
How many homes are available in Resort Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Summary: The Resort Township real estate market had 14 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Resort Township 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 remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Resort Township, 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 Resort Township in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Resort Township, MI
We’re sorry, we don't have information for this market at the moment
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.