Is Frankenmuth, 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, Frankenmuth has remained a Seller's Market.
Key Takeaway
Frankenmuth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Frankenmuth, MI
How much do homes in Frankenmuth, MI cost?
Median Sold Price
$301,500
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Frankenmuth have sold for 4% more than they did a year ago.
Summary: The median home sold price in Frankenmuth was $301,500 in May 2024, up 4% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $205K | $242K | +18.0% |
| 3 Bedrooms | $288.7K | $291.5K | +1.0% |
| 4 Bedrooms | $353.9K | $368K | +4.0% |
| 5+ Bedrooms | $370K | $530K | +43.2% |
Summary: Frankenmuth 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 18%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 43.2%.
Median Sold Price Compared To Nearby Cities
| Frankenmuth Township | $289.5K | $301.5K | +4.1% |
| Frankenmuth | $290K | $301.5K | +4.0% |
Housing Supply in Frankenmuth, MI
How many homes are available in Frankenmuth, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 36 | +20.0% |
Summary: The Frankenmuth real estate market had 36 homes for sale in May 2024, a 20.0% 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 | 3 | 5 | +66.7% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 7 | 12 | +71.4% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Frankenmuth 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 increased by 66.7%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Frankenmuth, you may be able to get a good deal. 63.6% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Frankenmuth in May 2024, up by 22.2% month-over-month. Of the 11 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% were sold over asking.
Days on Market for Frankenmuth, MI
How long does it take to sell a home in Frankenmuth, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 45 Days | 31 Days | -30.6% |
Summary: Homes in Frankenmuth had an average of 31 days on market in May 2024, down by 30.6% compared to last year.
Breakdown of Home Sale Times
7 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 Frankenmuth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Frankenmuth; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.