Is Bancroft, 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, Bancroft has remained a Seller's Market.
Key Takeaway
Bancroft is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bancroft, MI
How much do homes in Bancroft, MI cost?
Median Sold Price
$189,000
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bancroft have sold for 12.1% less than they did a year ago.
Summary: The median home sold price in Bancroft was $189,000 in May 2024, down 12.1% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $108.7K | N/A |
| 2 Bedrooms | $200.5K | $190K | -5.2% |
| 3 Bedrooms | $185K | $180K | -2.7% |
| 4 Bedrooms | $239.9K | $230K | -4.1% |
| 5+ Bedrooms | $295K | $385K | +30.5% |
Summary: Bancroft 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 5.2%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes increased by 30.5%.
Median Sold Price Compared To Nearby Cities
| Shiawassee Township | $190K | $210K | +10.5% |
| Bancroft | $214.9K | $189K | -12.1% |
Housing Supply in Bancroft, MI
How many homes are available in Bancroft, MI?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Summary: The Bancroft real estate market had 4 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 1 | 2 | +100.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Bancroft 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 remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Bancroft, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Bancroft in May 2024, down by 50.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Bancroft, MI
How long does it take to sell a home in Bancroft, MI?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 7 Days | -83.9% |
Summary: Homes in Bancroft had an average of 7 days on market in May 2024, down by 83.9% 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
Key Takeaway
Many homes in Bancroft are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1 homes were sold in Bancroft; 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.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.