Is East China, 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, East China has remained a Seller's Market.
Housing Prices in East China, MI
How much do homes in East China, MI cost?
Median Sold Price
$315,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in East China was $315,000 in May 2024, down 6% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $114K | N/A |
2 Bedrooms | $287.5K | $198K | -31.1% |
3 Bedrooms | $340K | $405K | +19.1% |
4 Bedrooms | $342.4K | $349.5K | +2.1% |
5+ Bedrooms | $292.4K | $465.5K | +59.2% |
Summary: East China 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 decreased by 31.1%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 59.2%.
Median Sold Price Compared To Nearby Cities
Marine City | $149.5K | $179.9K | +20.3% |
Saint Clair | $225K | $250K | +11.1% |
East China | $335K | $315K | -6.0% |
East China Township | $335K | $289K | -13.7% |
Housing Supply in East China, MI
How many homes are available in East China, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
27 | 35 | +29.6% |
Summary: The East China real estate market had 35 homes for sale in May 2024, a 29.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 2 | 3 | +50.0% |
3 Bedrooms | 15 | 19 | +26.7% |
4 Bedrooms | 8 | 12 | +50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The East China 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 50%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in East China in May 2024, up by 60.0% month-over-month. Of the 8 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.
Days on Market for East China, MI
How long does it take to sell a home in East China, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
79 Days | 30 Days | -61.9% |
Summary: Homes in East China had an average of 30 days on market in May 2024, down by 61.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in East China; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.