Is New Baltimore, 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, New Baltimore has remained a Seller's Market.
Housing Prices in New Baltimore, MI
How much do homes in New Baltimore, MI cost?
Median Sold Price
$385,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Baltimore was $385,000 in May 2024, up 3.2% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $138K | - | N/A |
2 Bedrooms | $242.2K | $250K | +3.2% |
3 Bedrooms | $340K | $382.5K | +12.5% |
4 Bedrooms | $465K | $479.9K | +3.2% |
5+ Bedrooms | $780K | $410K | -47.4% |
Summary: New Baltimore 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 3.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 47.4%.
Median Sold Price Compared To Nearby Cities
Chesterfield Township | $300.3K | $314.9K | +4.9% |
New Baltimore | $373.1K | $385K | +3.2% |
Ira Township | $277.5K | $280K | +0.9% |
Fair Haven | $277.5K | $280K | +0.9% |
Housing Supply in New Baltimore, MI
How many homes are available in New Baltimore, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
52 | 68 | +30.8% |
Summary: The New Baltimore real estate market had 68 homes for sale in May 2024, a 30.8% 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 | 5 | 12 | +140.0% |
3 Bedrooms | 20 | 29 | +45.0% |
4 Bedrooms | 26 | 26 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The New Baltimore 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 140%, 3 bedroom homes increased by 45%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 16 | +6.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in New Baltimore in May 2024, up by 6.7% month-over-month. Of the 16 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for New Baltimore, MI
How long does it take to sell a home in New Baltimore, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
68 Days | 78 Days | +15.1% |
Summary: Homes in New Baltimore had an average of 78 days on market in May 2024, up by 15.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in New Baltimore; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.