Is Morton Township, 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, Morton Township has remained a Seller's Market.
Housing Prices in Morton Township, MI
How much do homes in Morton Township, MI cost?
Median Sold Price
$295,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Morton Township was $295,000 in May 2024, down 2.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $158K | $55K | -65.2% |
2 Bedrooms | $196K | $154.2K | -21.3% |
3 Bedrooms | $303K | $294K | -3.0% |
4 Bedrooms | $350K | $355K | +1.4% |
5+ Bedrooms | $414.5K | $615K | +48.4% |
Summary: Morton Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 65.2%, 2 bedroom homes decreased by 21.3%, 3 bedroom homes decreased by 3%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 48.4%.
Median Sold Price Compared To Nearby Cities
Martiny Township | $187.5K | $215.7K | +15.1% |
Morton Township | $303K | $295K | -2.6% |
Mecosta | $165K | $159.8K | -3.2% |
Housing Supply in Morton Township, MI
How many homes are available in Morton Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 55 | +22.2% |
Summary: The Morton Township real estate market had 55 homes for sale in May 2024, a 22.2% 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 | 2 | 5 | +150.0% |
3 Bedrooms | 23 | 30 | +30.4% |
4 Bedrooms | 13 | 12 | -7.7% |
5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Morton Township 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 150%, 3 bedroom homes increased by 30.4%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 13 | +116.7% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Morton Township in May 2024, up by 116.7% month-over-month. Of the 13 sold homes, 77% were sold under asking, 15% were sold at asking, and 8% were sold over asking.
Days on Market for Morton Township, MI
How long does it take to sell a home in Morton Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
50 Days | 45 Days | -10.0% |
Summary: Homes in Morton Township had an average of 45 days on market in May 2024, down by 10% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Morton Township; 38% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.