Is Butman Township, 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, Butman Township was a Seller's Market.
Key Takeaway
Butman Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Butman Township, MI
How much do homes in Butman Township, MI cost?
Median Sold Price
$232,700
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Butman Township have sold for 7.3% less than they did a year ago.
Summary: The median home sold price in Butman Township was $232,700 in May 2024, down 7.3% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $101K | $168.4K | +66.8% |
| 3 Bedrooms | $267.5K | $324.9K | +21.5% |
| 4 Bedrooms | $256.2K | $500K | +95.1% |
| 5+ Bedrooms | - | - | N/A |
Summary: Butman Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 66.8%, 3 bedroom homes increased by 21.5%, 4 bedroom homes increased by 95.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Gladwin Township | $160K | $182K | +13.8% |
| Butman Township | $251K | $232.7K | -7.3% |
Housing Supply in Butman Township, MI
How many homes are available in Butman Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The Butman Township real estate market had 20 homes for sale in May 2024, a 5.3% 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 | 5 | 5 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Butman Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Butman Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Butman Township in May 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Butman Township, MI
How long does it take to sell a home in Butman Township, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 16 Days | -34.7% |
Summary: Homes in Butman Township had an average of 16 days on market in May 2024, down by 34.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Butman Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Butman Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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