Is Irons, 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, Irons has remained a Seller's Market.
Housing Prices in Irons, MI
How much do homes in Irons, MI cost?
Median Sold Price
$174,000
$157/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Irons was $174,000 in May 2024, up 4.7% from last year, and the median price per square foot was $157.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $114K | $80K | -29.8% |
2 Bedrooms | $119.9K | $166.5K | +38.9% |
3 Bedrooms | $239.9K | $211.5K | -11.9% |
4 Bedrooms | $365K | $507.5K | +39.0% |
5+ Bedrooms | $219.5K | $406.5K | +85.2% |
Summary: Irons housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.8%, 2 bedroom homes increased by 38.9%, 3 bedroom homes decreased by 11.9%, 4 bedroom homes increased by 39%, and 5+ bedroom homes increased by 85.2%.
Median Sold Price Compared To Nearby Cities
Elk Township | $172K | $215K | +25.0% |
Irons | $166.2K | $174K | +4.7% |
Sauble Township | $225K | $173K | -23.1% |
Housing Supply in Irons, MI
How many homes are available in Irons, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 29 | +11.5% |
Summary: The Irons real estate market had 29 homes for sale in May 2024, a 11.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 13 | 11 | -15.4% |
3 Bedrooms | 7 | 11 | +57.1% |
4 Bedrooms | 2 | 3 | +50.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Irons 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 decreased by 15.4%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 9 | +28.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Irons in May 2024, up by 28.6% month-over-month. Of the 9 sold homes, 44% were sold under asking, 44% were sold at asking, and 11% were sold over asking.
Days on Market for Irons, MI
How long does it take to sell a home in Irons, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
59 Days | 47 Days | -20.4% |
Summary: Homes in Irons had an average of 47 days on market in May 2024, down by 20.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Irons; 56% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.