Is Three Oaks, 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, Three Oaks has remained a Buyer's Market.
Key Takeaway
Three Oaks is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Three Oaks, MI
How much do homes in Three Oaks, MI cost?
Median Sold Price
$301,500
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Three Oaks have sold for 22.1% more than they did a year ago.
Summary: The median home sold price in Three Oaks was $301,500 in April 2024, up 22.1% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $1.8M | N/A |
| 2 Bedrooms | $172.5K | $277.5K | +60.9% |
| 3 Bedrooms | $216.7K | $288K | +32.9% |
| 4 Bedrooms | $307K | $570K | +85.7% |
| 5+ Bedrooms | $63.5K | - | N/A |
Summary: Three Oaks 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 60.9%, 3 bedroom homes increased by 32.9%, 4 bedroom homes increased by 85.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Three Oaks | $247K | $301.5K | +22.1% |
| Three Oaks Township | $247K | $301.5K | +22.1% |
Housing Supply in Three Oaks, MI
How many homes are available in Three Oaks, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 24 | +50.0% |
Summary: The Three Oaks real estate market had 24 homes for sale in April 2024, a 50.0% 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 | 5 | +66.7% |
| 3 Bedrooms | 7 | 12 | +71.4% |
| 4 Bedrooms | 5 | 6 | +20.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Three Oaks 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 increased by 66.7%, 3 bedroom homes increased by 71.4%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 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 Three Oaks, 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 Three Oaks in April 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Three Oaks, MI
How long does it take to sell a home in Three Oaks, MI?
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Three Oaks are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in Three Oaks; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
