Is Bay County, 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, Bay County has remained a Seller's Market.
Housing Prices in Bay County, MI
How much do homes in Bay County, MI cost?
Median Sold Price
$140,500
$112/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Bay County was $140,500 in May 2024, up 4.1% from last year, and the median price per square foot was $112.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $66K | $55.1K | -16.5% |
2 Bedrooms | $95K | $117K | +23.2% |
3 Bedrooms | $147K | $160.5K | +9.2% |
4 Bedrooms | $144.2K | $154K | +6.8% |
5+ Bedrooms | $123.5K | $190K | +53.8% |
Summary: Bay County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.5%, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 53.8%.
Median Sold Price Compared To Nearby Counties
Saginaw County | $141.5K | $162.5K | +14.8% |
Arenac County | $148K | $155K | +4.7% |
Bay County | $135K | $140.5K | +4.1% |
Tuscola County | $165K | $169.9K | +3.0% |
Gladwin County | $175K | $174K | -0.6% |
Housing Supply in Bay County, MI
How many homes are available in Bay County, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
241 | 277 | +14.9% |
Summary: The Bay County real estate market had 277 homes for sale in May 2024, a 14.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 4 | -33.3% |
2 Bedrooms | 38 | 55 | +44.7% |
3 Bedrooms | 119 | 137 | +15.1% |
4 Bedrooms | 66 | 69 | +4.5% |
5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Bay County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 44.7%, 3 bedroom homes increased by 15.1%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
58 | 84 | +44.8% |
Asking Price vs. Sold Price
33 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
36 Homes Were Sold
Over Asking
Summary: A total of 84 homes were sold or pending in Bay County in May 2024, up by 44.8% month-over-month. Of the 84 sold homes, 39% were sold under asking, 18% were sold at asking, and 43% were sold over asking.
Days on Market for Bay County, MI
How long does it take to sell a home in Bay County, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
34 Days | 25 Days | -27.5% |
Summary: Homes in Bay County had an average of 25 days on market in May 2024, down by 27.5% compared to last year.
Breakdown of Home Sale Times
61 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 84 homes were sold in Bay County; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.