Is Thomas Township, 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, Thomas Township has remained a Seller's Market.
Housing Prices in Thomas Township, MI
How much do homes in Thomas Township, MI cost?
Median Sold Price
$204,500
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Thomas Township was $204,500 in May 2024, up 5.7% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $62K | $124.8K | +101.4% |
2 Bedrooms | $115.5K | $144.9K | +25.5% |
3 Bedrooms | $193.5K | $209K | +8.0% |
4 Bedrooms | $270K | $255K | -5.6% |
5+ Bedrooms | $343.8K | $427.4K | +24.3% |
Summary: Thomas Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 101.4%, 2 bedroom homes increased by 25.5%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes increased by 24.3%.
Median Sold Price Compared To Nearby Cities
Saginaw Charter Township | $119.2K | $137.5K | +15.3% |
Thomas Township | $193.5K | $204.5K | +5.7% |
Hemlock | $170K | $176K | +3.5% |
Freeland | $300K | $276.5K | -7.8% |
Housing Supply in Thomas Township, MI
How many homes are available in Thomas Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 44 | +15.8% |
Summary: The Thomas Township real estate market had 44 homes for sale in May 2024, a 15.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 7 | 8 | +14.3% |
3 Bedrooms | 21 | 20 | -4.8% |
4 Bedrooms | 6 | 9 | +50.0% |
5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Thomas 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 increased by 14.3%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 9 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Thomas Township in May 2024, down by 25.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 11% were sold at asking, and 44% were sold over asking.
Days on Market for Thomas Township, MI
How long does it take to sell a home in Thomas Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
14 Days | 38 Days | +166.0% |
Summary: Homes in Thomas Township had an average of 38 days on market in May 2024, up by 166% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Thomas Township; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.