Is Upper East, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Upper East was a Seller's Market.
Key Takeaway
Upper East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper East, MI
How much do homes in Upper East, MI cost?
Median Sold Price
$55,000
$50/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Upper East have sold for 10% more than they did a year ago.
Summary: The median home sold price in Upper East was $55,000 in April 2024, up 10% from last year, and the median price per square foot was $50.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $60.5K | $5K | -91.7% |
| 2 Bedrooms | $36K | $40K | +11.1% |
| 3 Bedrooms | $50K | $57K | +14.1% |
| 4 Bedrooms | $61.5K | $80.8K | +31.4% |
| 5+ Bedrooms | $55K | $65K | +18.2% |
Summary: Upper East housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 91.7%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 31.4%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Neighborhoods
| Von Steuben | $42K | $55K | +31.0% |
| Mohican Regent | $75.5K | $84.7K | +12.3% |
| Mount Olivet | $47.5K | $52.5K | +10.5% |
| Upper East | $50K | $55K | +10.0% |
| Burbank | $51.3K | $52.8K | +2.9% |
Housing Supply in Upper East, MI
How many homes are available in Upper East, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 365 | 435 | +19.2% |
Summary: The Upper East real estate market had 435 homes for sale in April 2024, a 19.2% 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 | 64 | 78 | +21.9% |
| 3 Bedrooms | 270 | 319 | +18.1% |
| 4 Bedrooms | 23 | 29 | +26.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Upper East 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 21.9%, 3 bedroom homes increased by 18.1%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 46 | -11.5% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper East, you may be able to get a good deal. 54.3% of homes here sold below asking price last month.
Summary: A total of 46 homes were sold or pending in Upper East in April 2024, down by 11.5% month-over-month. Of the 46 sold homes, 54% were sold under asking, 33% were sold at asking, and 13% were sold over asking.
Days on Market for Upper East, MI
How long does it take to sell a home in Upper East, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 59 Days | 74 Days | +25.3% |
Summary: Homes in Upper East had an average of 74 days on market in Apr 2024, up by 25.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Upper East has remained consistent over time.
Summary: During April 2024, 46 homes were sold in Upper East; 33% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.