Is New Buffalo Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, New Buffalo Township was a Seller's Market.
Housing Prices in New Buffalo Township, MI
How much do homes in New Buffalo Township, MI cost?
Median Sold Price
$625,000
$383/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in New Buffalo Township was $625,000 in May 2024, up 3.3% from last year, and the median price per square foot was $383.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $337.2K | $389.5K | +15.5% |
2 Bedrooms | $390.5K | $409.7K | +4.9% |
3 Bedrooms | $542K | $532K | -1.8% |
4 Bedrooms | $844.5K | $745K | -11.8% |
5+ Bedrooms | $1.3M | $1.4M | +11.4% |
Summary: New Buffalo Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.5%, 2 bedroom homes increased by 4.9%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes increased by 11.4%.
Median Sold Price Compared To Nearby Cities
Grand Beach | $1.3M | $1.4M | +9.9% |
New Buffalo | $580K | $622.5K | +7.3% |
Union Pier | $692.5K | $720K | +4.0% |
New Buffalo Township | $605K | $625K | +3.3% |
Housing Supply in New Buffalo Township, MI
How many homes are available in New Buffalo Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
76 | 86 | +13.2% |
Summary: The New Buffalo Township real estate market had 86 homes for sale in May 2024, a 13.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 4 | 7 | +75.0% |
3 Bedrooms | 23 | 27 | +17.4% |
4 Bedrooms | 25 | 24 | -4.0% |
5+ Bedrooms | 21 | 24 | +14.3% |
Summary: The New Buffalo Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 75%, 3 bedroom homes increased by 17.4%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 11 | -31.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in New Buffalo Township in May 2024, down by 31.3% month-over-month. Of the 11 sold homes, 55% were sold under asking, 27% were sold at asking, and 18% were sold over asking.
Days on Market for New Buffalo Township, MI
How long does it take to sell a home in New Buffalo Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
75 Days | 62 Days | -17.3% |
Summary: Homes in New Buffalo Township had an average of 62 days on market in May 2024, down by 17.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in New Buffalo Township; 27% of homes were sold within 30 days, 64% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.