Is Essexville, 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, Essexville was a Neutral Market.
Key Takeaway
Essexville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Essexville, MI
How much do homes in Essexville, MI cost?
Median Sold Price
$140,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Essexville have sold for 1.4% less than they did a year ago.
Summary: The median home sold price in Essexville was $140,000 in May 2024, down 1.4% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67K | $49K | -26.9% |
| 2 Bedrooms | $92.5K | $131.7K | +42.4% |
| 3 Bedrooms | $151.4K | $166.2K | +9.8% |
| 4 Bedrooms | $130K | $162K | +24.6% |
| 5+ Bedrooms | - | $100K | N/A |
Summary: Essexville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.9%, 2 bedroom homes increased by 42.4%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 24.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Hampton Charter Township | $156K | $180K | +15.4% |
| Bangor Charter Township | $162.2K | $180K | +10.9% |
| Essexville | $142K | $140K | -1.4% |
Housing Supply in Essexville, MI
How many homes are available in Essexville, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 28 | -6.7% |
Summary: The Essexville real estate market had 28 homes for sale in May 2024, a 6.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 10 | +66.7% |
| 3 Bedrooms | 16 | 12 | -25.0% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Essexville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 8 | -27.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Essexville, you may be able to get a good deal. 87.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Essexville in May 2024, down by 27.3% month-over-month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.
Days on Market for Essexville, MI
How long does it take to sell a home in Essexville, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 49 Days | +276.9% |
Summary: Homes in Essexville had an average of 49 days on market in May 2024, up by 276.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Essexville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Essexville; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% 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.