Is Marion 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, Marion Township was a Neutral Market.
Housing Prices in Marion Township, MI
How much do homes in Marion Township, MI cost?
Median Sold Price
$142,750
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Marion Township was $142,750 in May 2024, down 17.7% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $72.5K | -34.1% |
2 Bedrooms | $129.9K | $113K | -13.0% |
3 Bedrooms | $165K | $174K | +5.5% |
4 Bedrooms | $185K | $130.2K | -29.6% |
5+ Bedrooms | $362K | $259K | -28.5% |
Summary: Marion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes decreased by 13%, 3 bedroom homes increased by 5.5%, 4 bedroom homes decreased by 29.6%, and 5+ bedroom homes decreased by 28.5%.
Housing Supply in Marion Township, MI
How many homes are available in Marion Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 24 | +50.0% |
Summary: The Marion Township real estate market had 24 homes for sale in May 2024, a 50.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 1 | 4 | +300.0% |
3 Bedrooms | 8 | 14 | +75.0% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Marion Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 300%, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 7 | +250.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Marion Township in May 2024, up by 250.0% month-over-month. Of the 7 sold homes, 57% were sold under asking, 14% were sold at asking, and 29% were sold over asking.
Days on Market for Marion Township, MI
How long does it take to sell a home in Marion Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
100 Days | 72 Days | -28.3% |
Summary: Homes in Marion Township had an average of 72 days on market in May 2024, down by 28.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 7 homes were sold in Marion Township; 14% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.