Is Homer, 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, Homer has remained a Seller's Market.
Key Takeaway
Homer is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Homer, MI
How much do homes in Homer, MI cost?
Median Sold Price
$145,000
$105/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since May 2023.
Key Takeaway
The sold price of homes in Homer has remained the same since last year.
Summary: The median home sold price in Homer was $145,000 in May 2024, the same as last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $150K | N/A |
| 2 Bedrooms | $110K | $200K | +81.8% |
| 3 Bedrooms | $139.9K | $138K | -1.4% |
| 4 Bedrooms | $145K | $138.7K | -4.3% |
| 5+ Bedrooms | $270K | $370K | +37.0% |
Summary: Homer 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 81.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 37%.
Median Sold Price Compared To Nearby Cities
| Albion Township | $124K | $135.2K | +9.1% |
| Homer Township | $145K | $147.5K | +1.7% |
| Homer | $145K | $145K | 0.0% |
Housing Supply in Homer, MI
How many homes are available in Homer, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Summary: The Homer real estate market had 9 homes for sale in May 2024, a 28.6% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Homer 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 increased by 100%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Homer, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Homer in May 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Homer, MI
How long does it take to sell a home in Homer, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 57 Days | +205.4% |
Summary: Homes in Homer had an average of 57 days on market in May 2024, up by 205.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Homer has remained consistent over time.
Summary: During May 2024, 2 homes were sold in Homer; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
