Is Bitely, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Bitely has remained a Seller's Market.
Housing Prices in Bitely, MI
How much do homes in Bitely, MI cost?
Median Sold Price
$122,500
$120/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Bitely was $122,500 in April 2024, down 5.8% from last year, and the median price per square foot was $120.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $87.9K | $125K | +42.1% |
2 Bedrooms | $150K | $99.9K | -33.4% |
3 Bedrooms | $131.4K | $245K | +86.4% |
4 Bedrooms | $315K | $180K | -42.9% |
5+ Bedrooms | - | - | N/A |
Summary: Bitely housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.1%, 2 bedroom homes decreased by 33.4%, 3 bedroom homes increased by 86.4%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Merrill Township | $150K | $160K | +6.7% |
Troy Township | $386.8K | $404.3K | +4.5% |
Lilley Township | $131K | $126.7K | -3.2% |
Bitely | $130K | $122.5K | -5.8% |
Housing Supply in Bitely, MI
How many homes are available in Bitely, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 17 | +13.3% |
Summary: The Bitely real estate market had 17 homes for sale in April 2024, a 13.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 6 | 9 | +50.0% |
3 Bedrooms | 5 | 5 | 0.0% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Bitely housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Bitely in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Bitely, MI
How long does it take to sell a home in Bitely, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
147 Days | 68 Days | -53.5% |
Summary: Homes in Bitely had an average of 68 days on market in Apr 2024, down by 53.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in Bitely; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.