Is Vergennes Township, 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, Vergennes Township was a Buyer's Market.
Key Takeaway
Vergennes Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vergennes Township, MI
How much do homes in Vergennes Township, MI cost?
Median Sold Price
$500,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Vergennes Township have sold for 16.3% more than they did a year ago.
Summary: The median home sold price in Vergennes Township was $500,000 in April 2024, up 16.3% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $400K | $399.9K | 0% |
| 3 Bedrooms | $355K | $398K | +12.1% |
| 4 Bedrooms | $425K | $535K | +25.9% |
| 5+ Bedrooms | $590K | $554.5K | -6.0% |
Summary: Vergennes Township 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 did not change, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes decreased by 6%.
Median Sold Price Compared To Nearby Cities
| Lowell | $315K | $399.9K | +27.0% |
| Vergennes Township | $430K | $500K | +16.3% |
| Lowell Charter Township | $355.5K | $400.4K | +12.6% |
| Ada | $572.8K | $602.5K | +5.2% |
Housing Supply in Vergennes Township, MI
How many homes are available in Vergennes Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 10 | -16.7% |
Summary: The Vergennes Township real estate market had 10 homes for sale in April 2024, a 16.7% 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 | 3 | 2 | -33.3% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Vergennes 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 50%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vergennes Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Vergennes Township in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Vergennes Township, MI
How long does it take to sell a home in Vergennes Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 54 Days | 19 Days | -63.3% |
Summary: Homes in Vergennes Township had an average of 19 days on market in Apr 2024, down by 63.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Vergennes Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in Vergennes Township; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
