Is Schoolcraft, 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, Schoolcraft was a Seller's Market.
Key Takeaway
Schoolcraft 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 Schoolcraft, MI
How much do homes in Schoolcraft, MI cost?
Median Sold Price
$357,450
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Schoolcraft have sold for 14.1% more than they did a year ago.
Summary: The median home sold price in Schoolcraft was $357,450 in May 2024, up 14.1% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130K | - | N/A |
| 2 Bedrooms | $165K | $165K | 0.0% |
| 3 Bedrooms | $270K | $330K | +22.2% |
| 4 Bedrooms | $420K | $450K | +7.1% |
| 5+ Bedrooms | $375K | $427.5K | +14.0% |
Summary: Schoolcraft 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 did not change, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Cities
| Schoolcraft | $313.2K | $357.4K | +14.1% |
| Schoolcraft Township | $285K | $304.5K | +6.8% |
Housing Supply in Schoolcraft, MI
How many homes are available in Schoolcraft, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -7.7% |
Summary: The Schoolcraft real estate market had 12 homes for sale in May 2024, a 7.7% decrease 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Schoolcraft 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 2 | -71.4% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Schoolcraft, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Schoolcraft in May 2024, down by 71.4% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Schoolcraft, MI
How long does it take to sell a home in Schoolcraft, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 19 Days | +162.5% |
Summary: Homes in Schoolcraft had an average of 19 days on market in May 2024, up by 162.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Schoolcraft are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 2 homes were sold in Schoolcraft; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
