Is Sherman Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Sherman Township was a Buyer's Market.
Key Takeaway
Sherman Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sherman Township, MI
How much do homes in Sherman Township, MI cost?
Median Sold Price
$135,000
$129/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Sherman Township have sold for 10% less than they did a month ago.
Summary: The median home sold price in Sherman Township was $135,000 in May 2024, down 10% from last month, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $150K | $118K | -21.3% |
| 3 Bedrooms | - | $198.5K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Sherman Township 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 decreased by 21.3%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Sherman Township | $150K | $135K | -10.0% |
| Lake Isabella | $690K | $198.5K | -71.2% |
Housing Supply in Sherman Township, MI
How many homes are available in Sherman Township, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 23 | +15.0% |
Summary: The Sherman Township real estate market had 23 homes for sale in May 2024, a 15.0% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 11 | 15 | +36.4% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sherman Township 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 36.4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 7 | +600.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sherman Township, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Sherman Township in May 2024, up by 600.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 43% were sold at asking, and 29% were sold over asking.
Days on Market for Sherman Township, MI
How long does it take to sell a home in Sherman Township, MI?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 48 Days | -19.3% |
Summary: Homes in Sherman Township had an average of 48 days on market in May 2024, down by 19.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Sherman Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Sherman Township; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.