Is Imlay City, 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, Imlay City has remained a Seller's Market.
Housing Prices in Imlay City, MI
How much do homes in Imlay City, MI cost?
Median Sold Price
$272,500
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Imlay City was $272,500 in April 2024, up 21.1% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $74.4K | N/A |
2 Bedrooms | $181.5K | $252.5K | +39.1% |
3 Bedrooms | $224K | $295K | +31.7% |
4 Bedrooms | $275K | $310K | +12.7% |
5+ Bedrooms | $249K | $250K | 0.4% |
Summary: Imlay City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 39.1%, 3 bedroom homes increased by 31.7%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
Imlay City | $225K | $272.5K | +21.1% |
Imlay Township | $375K | $325K | -13.3% |
Housing Supply in Imlay City, MI
How many homes are available in Imlay City, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
22 | 25 | +13.6% |
Summary: The Imlay City real estate market had 25 homes for sale in April 2024, a 13.6% 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 | 6 | 1 | -83.3% |
3 Bedrooms | 12 | 18 | +50.0% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Imlay City 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 83.3%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Imlay City in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Imlay City, MI
How long does it take to sell a home in Imlay City, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
110 Days | 33 Days | -69.7% |
Summary: Homes in Imlay City had an average of 33 days on market in Apr 2024, down by 69.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Imlay City; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.