Is Wellston, 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, Wellston was a Seller's Market.
Housing Prices in Wellston, MI
How much do homes in Wellston, MI cost?
Median Sold Price
$181,500
$151/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wellston was $181,500 in May 2024, up 29.7% from last year, and the median price per square foot was $151.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $110K | $130K | +18.2% |
2 Bedrooms | $92.9K | $152.4K | +64.1% |
3 Bedrooms | $200K | $183K | -8.5% |
4 Bedrooms | $170K | $420K | +147.1% |
5+ Bedrooms | - | $1.2M | N/A |
Summary: Wellston housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 64.1%, 3 bedroom homes decreased by 8.5%, 4 bedroom homes increased by 147.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Wellston | $139.9K | $181.5K | +29.7% |
Elk Township | $172K | $215K | +25.0% |
Housing Supply in Wellston, MI
How many homes are available in Wellston, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 18 | +20.0% |
Summary: The Wellston real estate market had 18 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 9 | 10 | +11.1% |
3 Bedrooms | 2 | 4 | +100.0% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Wellston 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 11.1%, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Wellston in May 2024, down by 50.0% 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 Wellston, MI
How long does it take to sell a home in Wellston, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
15 Days | 12 Days | -21.7% |
Summary: Homes in Wellston had an average of 12 days on market in May 2024, down by 21.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Wellston; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.