Is South Branch 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, South Branch Township was a Neutral Market.
Housing Prices in South Branch Township, MI
How much do homes in South Branch Township, MI cost?
Median Sold Price
$167,750
$129/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Branch Township was $167,750 in May 2024, down 2% from last year, and the median price per square foot was $129.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265.6K | $25K | -90.6% |
2 Bedrooms | $140K | $113.9K | -18.6% |
3 Bedrooms | $172.5K | $185K | +7.2% |
4 Bedrooms | $215K | $257.5K | +19.8% |
5+ Bedrooms | - | $292K | N/A |
Summary: South Branch Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 90.6%, 2 bedroom homes decreased by 18.6%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 19.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Grayling Charter Township | $150K | $191.2K | +27.5% |
South Branch Township | $171.2K | $167.7K | -2.0% |
Big Creek Township | $135K | $95K | -29.6% |
Luzerne | $187.5K | $116.5K | -37.9% |
Housing Supply in South Branch Township, MI
How many homes are available in South Branch Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
22 | 29 | +31.8% |
Summary: The South Branch Township real estate market had 29 homes for sale in May 2024, a 31.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 3 | +200.0% |
2 Bedrooms | 10 | 13 | +30.0% |
3 Bedrooms | 9 | 9 | 0.0% |
4 Bedrooms | 2 | 4 | +100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Branch Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 30%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 5 | -16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in South Branch Township in May 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for South Branch Township, MI
How long does it take to sell a home in South Branch Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
49 Days | 26 Days | -45.6% |
Summary: Homes in South Branch Township 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, 5 homes were sold in South Branch Township; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.