Is Northport, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Northport has remained a Seller's Market.
Key Takeaway
Northport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northport, MI
How much do homes in Northport, MI cost?
Median Sold Price
$650,000
$611/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Northport have sold for 50% less than they did a month ago.
Summary: The median home sold price in Northport was $650,000 in May 2024, down 50% from last month, and the median price per square foot was $611.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $500K | $525K | +5.0% |
| 3 Bedrooms | $2.1M | $559.5K | -73.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $3.0M | N/A |
Summary: Northport housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 73.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Northport | $1.3M | $650K | -50.0% |
| Leelanau Township | $1.3M | $650K | -50.0% |
Housing Supply in Northport, MI
How many homes are available in Northport, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The Northport real estate market had 11 homes for sale in May 2024, a 22.2% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Northport 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 remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Northport, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Northport in May 2024, up by 100.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Northport, MI
How long does it take to sell a home in Northport, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 Days | 203 Days | +363.1% |
Summary: Homes in Northport had an average of 203 days on market in May 2024, up by 363.1% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Northport are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Northport; 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.
