Is Ortonville, 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, Ortonville was a Seller's Market.
Key Takeaway
Ortonville is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Ortonville, MI
How much do homes in Ortonville, MI cost?
Median Sold Price
$380,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ortonville have sold for 8.6% more than they did a year ago.
Summary: The median home sold price in Ortonville was $380,000 in May 2024, up 8.6% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200.5K | $135K | -32.7% |
| 2 Bedrooms | $227.5K | $231K | +1.5% |
| 3 Bedrooms | $330K | $371K | +12.4% |
| 4 Bedrooms | $388.7K | $415K | +6.8% |
| 5+ Bedrooms | $499.9K | $345K | -31.0% |
Summary: Ortonville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 32.7%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 31%.
Median Sold Price Compared To Nearby Cities
| Ortonville | $350K | $380K | +8.6% |
| Brandon Charter Township | $354.5K | $365K | +3.0% |
Housing Supply in Ortonville, MI
How many homes are available in Ortonville, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 61 | +48.8% |
Summary: The Ortonville real estate market had 61 homes for sale in May 2024, a 48.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 20 | 26 | +30.0% |
| 4 Bedrooms | 14 | 24 | +71.4% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Ortonville 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 80%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ortonville, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Ortonville in May 2024, the same as the previous month. Of the 9 sold homes, 44% were sold under asking, 44% were sold at asking, and 11% were sold over asking.
Days on Market for Ortonville, MI
How long does it take to sell a home in Ortonville, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 52 Days | +178.1% |
Summary: Homes in Ortonville had an average of 52 days on market in May 2024, up by 178.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ortonville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Ortonville; 44% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 11% 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.