Is Bangor, 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, Bangor has remained a Seller's Market.
Key Takeaway
Bangor is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bangor, MI
How much do homes in Bangor, MI cost?
Median Sold Price
$197,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bangor have sold for 29.2% more than they did a year ago.
Summary: The median home sold price in Bangor was $197,000 in May 2024, up 29.2% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $63K | N/A |
| 2 Bedrooms | $110K | $165K | +50.0% |
| 3 Bedrooms | $156.2K | $205K | +31.2% |
| 4 Bedrooms | $175K | $260K | +48.6% |
| 5+ Bedrooms | $465K | - | N/A |
Summary: Bangor 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 50%, 3 bedroom homes increased by 31.2%, 4 bedroom homes increased by 48.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Bangor Township | $152.5K | $200K | +31.1% |
| Bangor | $152.5K | $197K | +29.2% |
Housing Supply in Bangor, MI
How many homes are available in Bangor, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 25 | +47.1% |
Summary: The Bangor real estate market had 25 homes for sale in May 2024, a 47.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Bangor housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bangor, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Bangor in May 2024, up by 150.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Bangor, MI
How long does it take to sell a home in Bangor, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 6 Days | 46 Days | +673.3% |
Summary: Homes in Bangor had an average of 46 days on market in May 2024, up by 673.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Bangor are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Bangor; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% 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.