Is Erie Township, 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, Erie Township has remained a Buyer's Market.
Key Takeaway
Erie Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Erie Township, MI
How much do homes in Erie Township, MI cost?
Median Sold Price
$188,500
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Erie Township have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in Erie Township was $188,500 in April 2024, down 0.8% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $37.5K | $185K | +393.3% |
| 2 Bedrooms | $160K | $130K | -18.8% |
| 3 Bedrooms | $191.2K | $209.9K | +9.8% |
| 4 Bedrooms | $250K | $250K | 0.0% |
| 5+ Bedrooms | $153.5K | - | N/A |
Summary: Erie Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 393.3%, 2 bedroom homes decreased by 18.8%, 3 bedroom homes increased by 9.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Luna Pier | $155K | $162.5K | +4.8% |
| Temperance | $259.9K | $260K | 0.0% |
| Washington Township | $176K | $175K | -0.6% |
| Erie Township | $190K | $188.5K | -0.8% |
Housing Supply in Erie Township, MI
How many homes are available in Erie Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The Erie Township real estate market had 9 homes for sale in April 2024, a 10.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Erie Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Erie Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Erie Township in April 2024, down by 80.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Erie Township, MI
How long does it take to sell a home in Erie Township, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 50 Days | 36 Days | -28.0% |
Summary: Homes in Erie Township had an average of 36 days on market in Apr 2024, down by 28% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Erie Township has remained consistent over time.
Summary: During April 2024, 1 homes were sold in Erie Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
