Is Marion Township, 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, Marion Township has remained a Seller's Market.
Housing Prices in Marion Township, MI
How much do homes in Marion Township, MI cost?
Median Sold Price
$367,740
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Marion Township was $367,740 in May 2024, up 0.8% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $190K | $72.5K | -61.8% |
2 Bedrooms | $290K | $265K | -8.6% |
3 Bedrooms | $356.4K | $345K | -3.2% |
4 Bedrooms | $405K | $395K | -2.5% |
5+ Bedrooms | $439.9K | $499.9K | +13.6% |
Summary: Marion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 61.8%, 2 bedroom homes decreased by 8.6%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 13.6%.
Median Sold Price Compared To Nearby Cities
Genoa Township | $358.2K | $401K | +11.9% |
Putnam Township | $316K | $339.9K | +7.6% |
Howell Township | $345.5K | $352.5K | +2.0% |
Howell | $346K | $352K | +1.7% |
Marion Township | $365K | $367.7K | +0.8% |
Housing Supply in Marion Township, MI
How many homes are available in Marion Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
71 | 82 | +15.5% |
Summary: The Marion Township real estate market had 82 homes for sale in May 2024, a 15.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 15 | 19 | +26.7% |
3 Bedrooms | 25 | 31 | +24.0% |
4 Bedrooms | 18 | 22 | +22.2% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Marion Township 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 26.7%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 15 | -6.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Marion Township in May 2024, down by 6.3% month-over-month. Of the 15 sold homes, 33% were sold under asking, 13% were sold at asking, and 53% were sold over asking.
Days on Market for Marion Township, MI
How long does it take to sell a home in Marion Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
46 Days | 49 Days | +5.6% |
Summary: Homes in Marion Township had an average of 49 days on market in May 2024, up by 5.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in Marion Township; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.