Is South Branch 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, South Branch Township was a Buyer's Market.
Housing Prices in South Branch Township, MI
How much do homes in South Branch Township, MI cost?
Median Sold Price
$170,000
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Branch Township was $170,000 in May 2024, up 9.7% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $159.9K | $277.4K | +73.5% |
2 Bedrooms | $80K | $82.5K | +3.1% |
3 Bedrooms | $207.2K | $185K | -10.7% |
4 Bedrooms | - | $230K | N/A |
5+ Bedrooms | - | $292K | N/A |
Summary: South Branch Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 73.5%, 2 bedroom homes increased by 3.1%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in South Branch Township, MI
How many homes are available in South Branch Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 15 | +7.1% |
Summary: The South Branch Township real estate market had 15 homes for sale in May 2024, a 7.1% 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 | 8 | +100.0% |
3 Bedrooms | 6 | 3 | -50.0% |
4 Bedrooms | 1 | 0 | -100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Branch 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 100%, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in South Branch Township in May 2024, the same as the previous month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for South Branch Township, MI
How long does it take to sell a home in South Branch Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
49 Days | 23 Days | -53.1% |
Summary: Homes in South Branch Township had an average of 23 days on market in May 2024, down by 53.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in South Branch Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.