Is Bangor, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bangor has remained a Seller's Market.
Housing Prices in Bangor, MI
How much do homes in Bangor, MI cost?
Median Sold Price
$197,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bangor was $197,000 in May 2024, up 29.2% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $63K | N/A |
2 Bedrooms | $110K | $165K | +50.0% |
3 Bedrooms | $156.2K | $205K | +31.2% |
4 Bedrooms | $175K | $260K | +48.6% |
5+ Bedrooms | $465K | - | N/A |
Summary: Bangor 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 50%, 3 bedroom homes increased by 31.2%, 4 bedroom homes increased by 48.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Bangor Township | $152.5K | $200K | +31.1% |
Bangor | $152.5K | $197K | +29.2% |
Housing Supply in Bangor, MI
How many homes are available in Bangor, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 25 | +47.1% |
Summary: The Bangor real estate market had 25 homes for sale in May 2024, a 47.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 12 | 15 | +25.0% |
4 Bedrooms | 0 | 2 | +100.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Bangor housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 5 | +150.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Bangor in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Bangor, MI
How long does it take to sell a home in Bangor, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
6 Days | 46 Days | +673.3% |
Summary: Homes in Bangor had an average of 46 days on market in May 2024, up by 673.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 5 homes were sold in Bangor; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.