Is Temperance, 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, Temperance has remained a Seller's Market.
Key Takeaway
Temperance is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Temperance, MI
How much do homes in Temperance, MI cost?
Median Sold Price
$260,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Temperance has remained the same since last year.
Summary: The median home sold price in Temperance was $260,000 in April 2024, the same as last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | - | N/A |
| 2 Bedrooms | $161.8K | $154.9K | -4.3% |
| 3 Bedrooms | $228.9K | $240K | +4.8% |
| 4 Bedrooms | $302K | $312.5K | +3.5% |
| 5+ Bedrooms | $325K | $580K | +78.5% |
Summary: Temperance 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 decreased by 4.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 78.5%.
Median Sold Price Compared To Nearby Cities
| Temperance | $259.9K | $260K | 0.0% |
| Bedford Township | $258.3K | $255.3K | -1.2% |
| Lambertville | $257.5K | $254K | -1.4% |
Housing Supply in Temperance, MI
How many homes are available in Temperance, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 53 | 48 | -9.4% |
Summary: The Temperance real estate market had 48 homes for sale in April 2024, a 9.4% 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 | 7 | 4 | -42.9% |
| 3 Bedrooms | 33 | 32 | -3.0% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Temperance 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 42.9%, 3 bedroom homes decreased by 3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 26 | 18 | -30.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Temperance, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Temperance in April 2024, down by 30.8% month-over-month. Of the 18 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Temperance, MI
How long does it take to sell a home in Temperance, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 30 Days | +662.5% |
Summary: Homes in Temperance had an average of 30 days on market in Apr 2024, up by 662.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Temperance are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Temperance; 67% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
