Is Burton, 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, Burton has remained a Seller's Market.
Key Takeaway
Burton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burton, MI
How much do homes in Burton, MI cost?
Median Sold Price
$162,750
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Burton have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in Burton was $162,750 in May 2024, up 4.9% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $36.3K | $33.5K | -7.7% |
| 2 Bedrooms | $106.7K | $100K | -6.3% |
| 3 Bedrooms | $170K | $172K | +1.2% |
| 4 Bedrooms | $242.9K | $234.9K | -3.3% |
| 5+ Bedrooms | - | $168K | N/A |
Summary: Burton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.7%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Genesee Charter Township | $140K | $155K | +10.7% |
| Burton | $155.1K | $162.7K | +4.9% |
| Davison Township | $234.9K | $242K | +3.0% |
| Richfield Township | $234.9K | $239K | +1.7% |
| Flint | $84.6K | $77.6K | -8.3% |
Housing Supply in Burton, MI
How many homes are available in Burton, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 93 | 95 | +2.2% |
Summary: The Burton real estate market had 95 homes for sale in May 2024, a 2.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 25 | 20 | -20.0% |
| 3 Bedrooms | 51 | 58 | +13.7% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Burton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 13.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 31 | 30 | -3.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burton, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Burton in May 2024, down by 3.2% month-over-month. Of the 30 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.
Days on Market for Burton, MI
How long does it take to sell a home in Burton, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 22 Days | +47.8% |
Summary: Homes in Burton had an average of 22 days on market in May 2024, up by 47.8% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 30 homes were sold in Burton; 77% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 7% 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.