Is Upper East, 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, Upper East was a Seller's Market.
Key Takeaway
Upper East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper East, MI
How much do homes in Upper East, MI cost?
Median Sold Price
$55,675
$50/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Upper East have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in Upper East was $55,675 in May 2024, up 11.3% from last year, and the median price per square foot was $50.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $4K | -95.3% |
| 2 Bedrooms | $35K | $41K | +17.1% |
| 3 Bedrooms | $50K | $58K | +16.0% |
| 4 Bedrooms | $56K | $82K | +46.4% |
| 5+ Bedrooms | $57.5K | $67.5K | +17.4% |
Summary: Upper East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 95.3%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 46.4%, and 5+ bedroom homes increased by 17.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Von Steuben | $47K | $55K | +17.0% |
| Mount Olivet | $48K | $53.5K | +11.5% |
| Upper East | $50K | $55.6K | +11.3% |
| Mohican Regent | $76.7K | $84.7K | +10.4% |
Housing Supply in Upper East, MI
How many homes are available in Upper East, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 402 | 459 | +14.2% |
Summary: The Upper East real estate market had 459 homes for sale in May 2024, a 14.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 5 | +150.0% |
| 2 Bedrooms | 74 | 81 | +9.5% |
| 3 Bedrooms | 290 | 335 | +15.5% |
| 4 Bedrooms | 28 | 29 | +3.6% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Upper East housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 41 | -25.5% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper East, you may be able to get a good deal. 63.4% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Upper East in May 2024, down by 25.5% month-over-month. Of the 41 sold homes, 63% were sold under asking, 22% were sold at asking, and 15% were sold over asking.
Days on Market for Upper East, MI
How long does it take to sell a home in Upper East, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 38 Days | -11.2% |
Summary: Homes in Upper East had an average of 38 days on market in May 2024, down by 11.2% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Upper East are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 41 homes were sold in Upper East; 61% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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.