Is Forest Home Township, 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, Forest Home Township was a Neutral Market.
Housing Prices in Forest Home Township, MI
How much do homes in Forest Home Township, MI cost?
Median Sold Price
$337,500
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Forest Home Township was $337,500 in May 2024, down 17.2% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $420K | $272K | -35.2% |
2 Bedrooms | $240K | $280K | +16.7% |
3 Bedrooms | $350K | $320K | -8.6% |
4 Bedrooms | $635K | $366K | -42.4% |
5+ Bedrooms | $1.4M | $1.9M | +38.4% |
Summary: Forest Home Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 35.2%, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes decreased by 42.4%, and 5+ bedroom homes increased by 38.4%.
Median Sold Price Compared To Nearby Cities
Kearney Township | $230K | $305K | +32.6% |
Bellaire | $268.5K | $315K | +17.3% |
Kewadin | $500K | $422K | -15.6% |
Forest Home Township | $407.5K | $337.5K | -17.2% |
Housing Supply in Forest Home Township, MI
How many homes are available in Forest Home Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 15 | +36.4% |
Summary: The Forest Home Township real estate market had 15 homes for sale in May 2024, a 36.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 3 | 6 | +100.0% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Forest Home Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
2 | 3 | +50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Forest Home Township in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Forest Home Township, MI
How long does it take to sell a home in Forest Home Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
3 Days | 49 Days | +1533.3% |
Summary: Homes in Forest Home Township had an average of 49 days on market in May 2024, up by 1533.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 3 homes were sold in Forest Home Township; 0% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.