Is Suttons Bay Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Suttons Bay Township was a Buyer's Market.
Key Takeaway
Suttons Bay Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Suttons Bay Township, MI
How much do homes in Suttons Bay Township, MI cost?
Median Sold Price
$865,000
$353/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Suttons Bay Township have sold for 0.7% less than they did a month ago.
Summary: The median home sold price in Suttons Bay Township was $865,000 in April 2024, down 0.7% from last month, and the median price per square foot was $353.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $842K | - | N/A |
| 3 Bedrooms | - | $865K | N/A |
| 4 Bedrooms | - | $822.5K | N/A |
| 5+ Bedrooms | $900K | - | N/A |
Summary: Suttons Bay Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Leelanau | $1.0M | $2.3M | +112.4% |
| Suttons Bay | $842K | $865K | +2.7% |
| Suttons Bay Township | $871K | $865K | -0.7% |
| Leelanau Township | $825K | $500K | -39.4% |
Housing Supply in Suttons Bay Township, MI
How many homes are available in Suttons Bay Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Summary: The Suttons Bay Township real estate market had 16 homes for sale in April 2024, a 14.3% increase 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 5 | 8 | +60.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Suttons Bay 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 decreased by 33.3%, 3 bedroom homes increased by 60%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Suttons Bay Township, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Suttons Bay Township in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Suttons Bay Township, MI
How long does it take to sell a home in Suttons Bay Township, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 77 Days | 32 Days | -57.6% |
Summary: Homes in Suttons Bay Township had an average of 32 days on market in Apr 2024, down by 57.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Suttons Bay Township has remained consistent over time.
Summary: During April 2024, 3 homes were sold in Suttons Bay Township; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
