Is Vicksburg, 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, Vicksburg has remained a Seller's Market.
Key Takeaway
Vicksburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Vicksburg, MI
How much do homes in Vicksburg, MI cost?
Median Sold Price
$278,450
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Vicksburg have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Vicksburg was $278,450 in May 2024, up 7.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $103.5K | $16.2K | -84.3% |
| 2 Bedrooms | $162.5K | $195K | +20.0% |
| 3 Bedrooms | $246K | $269.9K | +9.7% |
| 4 Bedrooms | $298.8K | $314.9K | +5.4% |
| 5+ Bedrooms | $290K | $367.5K | +26.7% |
Summary: Vicksburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 84.3%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 26.7%.
Median Sold Price Compared To Nearby Cities
| Vicksburg | $260K | $278.4K | +7.1% |
| Schoolcraft Township | $285K | $304.5K | +6.8% |
| Brady Township | $235.1K | $235.5K | 0.2% |
Housing Supply in Vicksburg, MI
How many homes are available in Vicksburg, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 44 | 0.0% |
Summary: The Vicksburg real estate market had 44 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 21 | 25 | +19.0% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Vicksburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 19%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Vicksburg, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Vicksburg in May 2024, down by 23.5% month-over-month. Of the 13 sold homes, 15% were sold under asking, 38% were sold at asking, and 46% were sold over asking.
Days on Market for Vicksburg, MI
How long does it take to sell a home in Vicksburg, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 32 Days | +58.0% |
Summary: Homes in Vicksburg had an average of 32 days on market in May 2024, up by 58% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Vicksburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Vicksburg; 69% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
