Is Manchester, 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, Manchester has remained a Seller's Market.
Key Takeaway
Manchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manchester, MI
How much do homes in Manchester, MI cost?
Median Sold Price
$330,000
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manchester have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Manchester was $330,000 in May 2024, up 13.4% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $159K | $170K | +6.9% |
| 3 Bedrooms | $299.9K | $350K | +16.7% |
| 4 Bedrooms | $359.9K | $389K | +8.1% |
| 5+ Bedrooms | $452.5K | $275K | -39.2% |
Summary: Manchester 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 6.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 39.2%.
Median Sold Price Compared To Nearby Cities
| Manchester | $291K | $330K | +13.4% |
| Sharon Township | $397.5K | $445K | +11.9% |
| Manchester Township | $285K | $312.5K | +9.6% |
Housing Supply in Manchester, MI
How many homes are available in Manchester, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 26 | +30.0% |
Summary: The Manchester real estate market had 26 homes for sale in May 2024, a 30.0% 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 | 6 | 4 | -33.3% |
| 3 Bedrooms | 7 | 10 | +42.9% |
| 4 Bedrooms | 7 | 11 | +57.1% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Manchester 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 decreased by 33.3%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Manchester in May 2024, up by 40.0% month-over-month. Of the 7 sold homes, 43% were sold under asking, 0% were sold at asking, and 57% were sold over asking.
Days on Market for Manchester, MI
How long does it take to sell a home in Manchester, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 27 Days | -31.7% |
Summary: Homes in Manchester had an average of 27 days on market in May 2024, down by 31.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manchester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Manchester; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
