Is Boyne City, 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, Boyne City has remained a Seller's Market.
Housing Prices in Boyne City, MI
How much do homes in Boyne City, MI cost?
Median Sold Price
$386,450
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Boyne City was $386,450 in May 2024, up 10.2% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $397.5K | $205K | -48.4% |
2 Bedrooms | $185.7K | $210K | +13.1% |
3 Bedrooms | $335K | $382K | +14.0% |
4 Bedrooms | $460K | $551.7K | +19.9% |
5+ Bedrooms | $915K | $1.2M | +36.6% |
Summary: Boyne City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.4%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 36.6%.
Median Sold Price Compared To Nearby Cities
Melrose Township | $279.4K | $318K | +13.8% |
Boyne Valley Township | $271K | $300K | +10.7% |
Boyne City | $350.7K | $386.4K | +10.2% |
Housing Supply in Boyne City, MI
How many homes are available in Boyne City, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 | 38 | +18.8% |
Summary: The Boyne City real estate market had 38 homes for sale in May 2024, a 18.8% 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 | 9 | 10 | +11.1% |
3 Bedrooms | 16 | 16 | 0.0% |
4 Bedrooms | 5 | 10 | +100.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Boyne City 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 11.1%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 10 | +25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Boyne City in May 2024, up by 25.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for Boyne City, MI
How long does it take to sell a home in Boyne City, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Boyne City; 10% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.