Is Nolan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Nolan has remained a Buyer's Market.
Housing Prices in Nolan, MI
How much do homes in Nolan, MI cost?
Median Sold Price
$50,000
$46/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Nolan was $50,000 in May 2024, up 9.9% from last year, and the median price per square foot was $46.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $39.9K | $43K | +7.8% |
3 Bedrooms | $46K | $50K | +8.7% |
4 Bedrooms | $45K | $64.2K | +42.8% |
5+ Bedrooms | $80K | $45K | -43.8% |
Summary: Nolan 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 7.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 42.8%, and 5+ bedroom homes decreased by 43.8%.
Median Sold Price Compared To Nearby Neighborhoods
North East | $50.6K | $59.4K | +17.5% |
Pershing | $48.5K | $55K | +13.4% |
Nolan | $45.5K | $50K | +9.9% |
Housing Supply in Nolan, MI
How many homes are available in Nolan, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
47 | 51 | +8.5% |
Summary: The Nolan real estate market had 51 homes for sale in May 2024, a 8.5% 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 | 13 | 13 | 0.0% |
3 Bedrooms | 27 | 30 | +11.1% |
4 Bedrooms | 7 | 7 | 0.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Nolan 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 increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 6 | -45.5% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Nolan in May 2024, down by 45.5% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Nolan, MI
How long does it take to sell a home in Nolan, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 13 Days | -37.9% |
Summary: Homes in Nolan had an average of 13 days on market in May 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Nolan; 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.