Is Frederic, 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, Frederic was a Neutral Market.
Key Takeaway
Frederic is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Frederic, MI
How much do homes in Frederic, MI cost?
Median Sold Price
$245,500
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Frederic have sold for 26.6% more than they did a year ago.
Summary: The median home sold price in Frederic was $245,500 in May 2024, up 26.6% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $192.2K | $257.5K | +33.9% |
| 3 Bedrooms | $193.9K | $222.2K | +14.6% |
| 4 Bedrooms | $168K | - | N/A |
| 5+ Bedrooms | $495K | - | N/A |
Summary: Frederic 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 33.9%, 3 bedroom homes increased by 14.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Frederic Township | $187.9K | $238.5K | +26.9% |
| Frederic | $193.9K | $245.5K | +26.6% |
| Otsego Lake Township | $250K | $292K | +16.8% |
Housing Supply in Frederic, MI
How many homes are available in Frederic, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Summary: The Frederic real estate market had 7 homes for sale in May 2024, a 22.2% decrease 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 | 2 | -33.3% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Frederic 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 decreased by 33.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Frederic, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Frederic in May 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Frederic, MI
We’re sorry, we don't have information for this market at the moment
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