Is Homer Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Homer Township has remained a Seller's Market.
Key Takeaway
Homer Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homer Township, MI
How much do homes in Homer Township, MI cost?
Median Sold Price
$173,000
$126/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Homer Township have sold for 23.1% less than they did a month ago.
Summary: The median home sold price in Homer Township was $173,000 in April 2024, down 23.1% from last month, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $165K | $173K | +4.8% |
| 4 Bedrooms | $285K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Homer Township housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 4.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Homer Township | $225K | $173K | -23.1% |
| Homer | $225K | $164K | -27.1% |
Housing Supply in Homer Township, MI
How many homes are available in Homer Township, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Homer Township real estate market had 8 homes for sale in April 2024, a 14.3% increase 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Homer 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 remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
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
Key Takeaway
If you're buying a home in Homer Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Homer Township 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 Homer Township, MI
How long does it take to sell a home in Homer Township, MI?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 175 Days | 166 Days | -5.0% |
Summary: Homes in Homer Township had an average of 166 days on market in Apr 2024, down by 5% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Homer Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 3 homes were sold in Homer Township; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
