Is Augusta, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Augusta was a Buyer's Market.
Key Takeaway
Augusta is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Augusta, MI
How much do homes in Augusta, MI cost?
Median Sold Price
$290,000
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Augusta have sold for 4.9% less than they did a year ago.
Summary: The median home sold price in Augusta was $290,000 in May 2024, down 4.9% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $37K | N/A |
| 2 Bedrooms | $146.3K | $190K | +29.8% |
| 3 Bedrooms | $290K | $210.1K | -27.5% |
| 4 Bedrooms | $413K | $480K | +16.2% |
| 5+ Bedrooms | $726K | $636K | -12.4% |
Summary: Augusta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 29.8%, 3 bedroom homes decreased by 27.5%, 4 bedroom homes increased by 16.2%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Cities
| Augusta | $305K | $290K | -4.9% |
| Ross Township | $430K | $375K | -12.8% |
Housing Supply in Augusta, MI
How many homes are available in Augusta, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Summary: The Augusta real estate market had 20 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Augusta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Augusta, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Augusta in May 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Augusta, MI
How long does it take to sell a home in Augusta, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 3 Days | 19 Days | +541.7% |
Summary: Homes in Augusta had an average of 19 days on market in May 2024, up by 541.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Augusta are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Augusta; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
