Is Marion Township, 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, Marion Township has remained a Seller's Market.
Housing Prices in Marion Township, MI
How much do homes in Marion Township, MI cost?
Median Sold Price
$187,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Marion Township was $187,000 in May 2024, down 13% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $72.5K | -34.1% |
2 Bedrooms | $136.2K | $120K | -11.9% |
3 Bedrooms | $220.7K | $244.7K | +10.9% |
4 Bedrooms | $240.7K | $140.5K | -41.6% |
5+ Bedrooms | $481K | $292.4K | -39.2% |
Summary: Marion Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes decreased by 11.9%, 3 bedroom homes increased by 10.9%, 4 bedroom homes decreased by 41.6%, and 5+ bedroom homes decreased by 39.2%.
Median Sold Price Compared To Nearby Cities
Eveline Township | $600K | $702.5K | +17.1% |
Charlevoix Township | $389.9K | $358K | -8.2% |
Marion Township | $215K | $187K | -13.0% |
Housing Supply in Marion Township, MI
How many homes are available in Marion Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 32 | +60.0% |
Summary: The Marion Township real estate market had 32 homes for sale in May 2024, a 60.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 0 | -100.0% |
2 Bedrooms | 1 | 4 | +300.0% |
3 Bedrooms | 11 | 18 | +63.6% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Marion Township 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 300%, 3 bedroom homes increased by 63.6%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 8 | +300.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Marion Township in May 2024, up by 300.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 13% were sold at asking, and 38% were sold over asking.
Days on Market for Marion Township, MI
How long does it take to sell a home in Marion Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
100 Days | 52 Days | -47.6% |
Summary: Homes in Marion Township had an average of 52 days on market in May 2024, down by 47.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 8 homes were sold in Marion Township; 13% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.