Is DeWitt, 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, DeWitt has remained a Seller's Market.
Housing Prices in DeWitt, MI
How much do homes in DeWitt, MI cost?
Median Sold Price
$360,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in DeWitt was $360,000 in May 2024, up 2.2% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $189K | N/A |
2 Bedrooms | $218.5K | $220.7K | +1.0% |
3 Bedrooms | $304.5K | $285K | -6.4% |
4 Bedrooms | $399.9K | $411.9K | +3.0% |
5+ Bedrooms | $492K | $489K | -0.6% |
Summary: DeWitt 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 increased by 1%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
DeWitt | $352.2K | $360K | +2.2% |
DeWitt Charter Township | $335K | $330.4K | -1.4% |
Housing Supply in DeWitt, MI
How many homes are available in DeWitt, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
59 | 64 | +8.5% |
Summary: The DeWitt real estate market had 64 homes for sale in May 2024, a 8.5% increase 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 | 5 | 4 | -20.0% |
3 Bedrooms | 23 | 22 | -4.3% |
4 Bedrooms | 23 | 22 | -4.3% |
5+ Bedrooms | 8 | 16 | +100.0% |
Summary: The DeWitt 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 decreased by 20%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 20 | +11.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in DeWitt in May 2024, up by 11.1% month-over-month. Of the 20 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for DeWitt, MI
How long does it take to sell a home in DeWitt, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
11 Days | 18 Days | +63.9% |
Summary: Homes in DeWitt had an average of 18 days on market in May 2024, up by 63.9% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in DeWitt; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.