Is Olive 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, Olive Township has remained a Seller's Market.
Housing Prices in Olive Township, MI
How much do homes in Olive Township, MI cost?
Median Sold Price
$256,500
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Olive Township was $256,500 in May 2024, down 17.3% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $237.5K | $219K | -7.8% |
3 Bedrooms | $329.5K | $230K | -30.2% |
4 Bedrooms | $400.5K | $413.7K | +3.3% |
5+ Bedrooms | $592K | $412.5K | -30.3% |
Summary: Olive Township 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 7.8%, 3 bedroom homes decreased by 30.2%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 30.3%.
Median Sold Price Compared To Nearby Cities
Ovid Township | $160K | $195K | +21.9% |
Victor Township | $265K | $319.2K | +20.5% |
Bingham Township | $317K | $380K | +19.9% |
DeWitt Charter Township | $335K | $330.4K | -1.4% |
Olive Township | $310K | $256.5K | -17.3% |
Housing Supply in Olive Township, MI
How many homes are available in Olive Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
7 | 6 | -14.3% |
Summary: The Olive Township real estate market had 6 homes for sale in May 2024, a 14.3% decrease 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 | 1 | 1 | 0.0% |
3 Bedrooms | 5 | 4 | -20.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Olive 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 remained the same, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 2 homes were sold or pending in Olive Township in May 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Olive Township, MI
How long does it take to sell a home in Olive Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
4 Days | 17 Days | +288.9% |
Summary: Homes in Olive Township had an average of 17 days on market in May 2024, up by 288.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 2 homes were sold in Olive Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.