Is Saranac, 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, Saranac has remained a Seller's Market.
Housing Prices in Saranac, MI
How much do homes in Saranac, MI cost?
Median Sold Price
$260,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Saranac was $260,000 in April 2024, up 20.6% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $349.9K | N/A |
2 Bedrooms | $170K | $171K | +0.6% |
3 Bedrooms | $210K | $253K | +20.5% |
4 Bedrooms | $334.2K | $315K | -5.8% |
5+ Bedrooms | $400K | $290K | -27.5% |
Summary: Saranac 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 0.6%, 3 bedroom homes increased by 20.5%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 27.5%.
Median Sold Price Compared To Nearby Cities
Saranac | $215.5K | $260K | +20.6% |
Boston Township | $275K | $310K | +12.7% |
Housing Supply in Saranac, MI
How many homes are available in Saranac, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 7 | -46.2% |
Summary: The Saranac real estate market had 7 homes for sale in April 2024, a 46.2% decrease 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 | 2 | 1 | -50.0% |
3 Bedrooms | 6 | 5 | -16.7% |
4 Bedrooms | 4 | 1 | -75.0% |
5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Saranac 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 50%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 75%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Saranac in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Saranac, MI
How long does it take to sell a home in Saranac, MI?
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Saranac; 80% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.