Is South Branch, 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, South Branch was a Buyer's Market.
Housing Prices in South Branch, MI
How much do homes in South Branch, MI cost?
Median Sold Price
$164,000
$130/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Branch was $164,000 in May 2024, up 45.8% from last year, and the median price per square foot was $130.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $68K | $455K | +569.1% |
2 Bedrooms | $74K | $82.5K | +11.5% |
3 Bedrooms | $254.4K | $185K | -27.3% |
4 Bedrooms | - | $135K | N/A |
5+ Bedrooms | - | $292K | N/A |
Summary: South Branch housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 569.1%, 2 bedroom homes increased by 11.5%, 3 bedroom homes decreased by 27.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
South Branch | $112.4K | $164K | +45.8% |
Curtis Township | $170K | $197.5K | +16.2% |
Housing Supply in South Branch, MI
How many homes are available in South Branch, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 12 | +33.3% |
Summary: The South Branch real estate market had 12 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 3 | 7 | +133.3% |
3 Bedrooms | 6 | 4 | -33.3% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Branch housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 133.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, 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
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in South Branch in May 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for South Branch, MI
How long does it take to sell a home in South Branch, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
49 Days | 26 Days | -45.6% |
Summary: Homes in South Branch had an average of 26 days on market in May 2024, down by 45.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was 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 South Branch; 33% 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.