Is Upper East, 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, Upper East was a Seller's Market.
Housing Prices in Upper East, MI
How much do homes in Upper East, MI cost?
Median Sold Price
$55,675
$50/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Upper East was $55,675 in May 2024, up 11.3% from last year, and the median price per square foot was $50.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $85K | $4K | -95.3% |
2 Bedrooms | $35K | $41K | +17.1% |
3 Bedrooms | $50K | $58K | +16.0% |
4 Bedrooms | $56K | $82K | +46.4% |
5+ Bedrooms | $57.5K | $67.5K | +17.4% |
Summary: Upper East housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 95.3%, 2 bedroom homes increased by 17.1%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 46.4%, and 5+ bedroom homes increased by 17.4%.
Median Sold Price Compared To Nearby Neighborhoods
Von Steuben | $47K | $55K | +17.0% |
Mount Olivet | $48K | $53.5K | +11.5% |
Upper East | $50K | $55.6K | +11.3% |
Mohican Regent | $76.7K | $84.7K | +10.4% |
Housing Supply in Upper East, MI
How many homes are available in Upper East, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
402 | 459 | +14.2% |
Summary: The Upper East real estate market had 459 homes for sale in May 2024, a 14.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 5 | +150.0% |
2 Bedrooms | 74 | 81 | +9.5% |
3 Bedrooms | 290 | 335 | +15.5% |
4 Bedrooms | 28 | 29 | +3.6% |
5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Upper East housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 15.5%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 41 | -25.5% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 41 homes were sold or pending in Upper East in May 2024, down by 25.5% month-over-month. Of the 41 sold homes, 63% were sold under asking, 22% were sold at asking, and 15% were sold over asking.
Days on Market for Upper East, MI
How long does it take to sell a home in Upper East, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 38 Days | -11.2% |
Summary: Homes in Upper East had an average of 38 days on market in May 2024, down by 11.2% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During May 2024, 41 homes were sold in Upper East; 61% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.