Is Pennfield Charter 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, Pennfield Charter Township has remained a Seller's Market.
Key Takeaway
Pennfield Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pennfield Charter Township, MI
How much do homes in Pennfield Charter Township, MI cost?
Median Sold Price
$203,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Pennfield Charter Township have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Pennfield Charter Township was $203,000 in May 2024, up 6.8% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $55K | $86K | +56.4% |
| 2 Bedrooms | $140.5K | $161K | +14.6% |
| 3 Bedrooms | $179K | $200K | +11.7% |
| 4 Bedrooms | $214K | $319.1K | +49.1% |
| 5+ Bedrooms | $464K | $362.5K | -21.9% |
Summary: Pennfield Charter Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.4%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 11.7%, 4 bedroom homes increased by 49.1%, and 5+ bedroom homes decreased by 21.9%.
Median Sold Price Compared To Nearby Cities
| Bedford Charter Township | $152K | $206K | +35.5% |
| Convis Township | $243K | $303K | +24.7% |
| Battle Creek | $159.9K | $175.1K | +9.5% |
| Pennfield Charter Township | $190K | $203K | +6.8% |
Housing Supply in Pennfield Charter Township, MI
How many homes are available in Pennfield Charter Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 35 | +2.9% |
Summary: The Pennfield Charter Township real estate market had 35 homes for sale in May 2024, a 2.9% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Pennfield Charter Township 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 16.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 12 | +50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pennfield Charter Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in Pennfield Charter Township in May 2024, up by 50.0% month-over-month. Of the 12 sold homes, 50% were sold under asking, 8% were sold at asking, and 42% were sold over asking.
Days on Market for Pennfield Charter Township, MI
How long does it take to sell a home in Pennfield Charter Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 33 Days | +78.7% |
Summary: Homes in Pennfield Charter Township had an average of 33 days on market in May 2024, up by 78.7% compared to last year.
Breakdown of Home Sale Times
8 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 Pennfield Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Pennfield Charter Township; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% 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.