Is North, 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, North has remained a Seller's Market.
Key Takeaway
North is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North, MI
How much do homes in North, MI cost?
Median Sold Price
$119,475
$84/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in North have sold for 7.9% less than they did a year ago.
Summary: The median home sold price in North was $119,475 in April 2024, down 7.9% from last year, and the median price per square foot was $84.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $93K | N/A |
| 2 Bedrooms | $52K | $50.9K | -2.1% |
| 3 Bedrooms | $125K | $111.7K | -10.6% |
| 4 Bedrooms | $145.5K | $165K | +13.4% |
| 5+ Bedrooms | $275K | $240K | -12.7% |
Summary: North 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 decreased by 2.1%, 3 bedroom homes decreased by 10.6%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes decreased by 12.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Bagley Community | $183.2K | $187K | +2.0% |
| Pembroke | $115K | $115K | 0.0% |
| North | $129.7K | $119.4K | -7.9% |
| Bagley | $165K | $149.4K | -9.4% |
Housing Supply in North, MI
How many homes are available in North, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 359 | 408 | +13.6% |
Summary: The North real estate market had 408 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 | 1 | 1 | 0.0% |
| 2 Bedrooms | 27 | 25 | -7.4% |
| 3 Bedrooms | 242 | 269 | +11.2% |
| 4 Bedrooms | 62 | 81 | +30.6% |
| 5+ Bedrooms | 27 | 32 | +18.5% |
Summary: The North 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 7.4%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes increased by 18.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 71 | +9.2% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.
Summary: A total of 71 homes were sold or pending in North in April 2024, up by 9.2% month-over-month. Of the 71 sold homes, 52% were sold under asking, 24% were sold at asking, and 24% were sold over asking.
Days on Market for North, MI
How long does it take to sell a home in North, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 68 Days | 41 Days | -39.0% |
Summary: Homes in North had an average of 41 days on market in Apr 2024, down by 39% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 71 homes were sold in North; 58% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. Copyright MiRealSource.