Is Tipton, 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, Tipton was a Seller's Market.
Key Takeaway
Tipton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Tipton, MI
How much do homes in Tipton, MI cost?
Median Sold Price
$318,500
$183/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tipton have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Tipton was $318,500 in May 2024, up 2.7% from last year, and the median price per square foot was $183.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135.3K | - | N/A |
| 2 Bedrooms | $255K | $199.9K | -21.6% |
| 3 Bedrooms | $320K | $321.7K | 0.5% |
| 4 Bedrooms | $345K | $435K | +26.1% |
| 5+ Bedrooms | - | $356.2K | N/A |
Summary: Tipton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 21.6%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 26.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Franklin Township | $457.5K | $560K | +22.4% |
| Manchester Township | $285K | $312.5K | +9.6% |
| Tipton | $310.2K | $318.5K | +2.7% |
| Adrian Township | $185K | $185.9K | 0.5% |
Housing Supply in Tipton, MI
How many homes are available in Tipton, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Tipton real estate market had 11 homes for sale in May 2024, a 8.3% decrease 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 | 4 | +100.0% |
| 3 Bedrooms | 5 | 4 | -20.0% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Tipton 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 100%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 1 | -85.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tipton, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 1 homes were sold or pending in Tipton in May 2024, down by 85.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% were sold over asking.
Days on Market for Tipton, MI
How long does it take to sell a home in Tipton, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 61 Days | 65 Days | +6.1% |
Summary: Homes in Tipton had an average of 65 days on market in May 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Tipton has remained consistent over time.
Summary: During May 2024, 1 homes were sold in Tipton; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
