Is Suttons Bay Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Suttons Bay Township has remained a Seller's Market.
Housing Prices in Suttons Bay Township, MI
How much do homes in Suttons Bay Township, MI cost?
Median Sold Price
$675,000
$279/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Suttons Bay Township was $675,000 in May 2024, down 22% from last month, and the median price per square foot was $279.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | - | - | N/A |
3 Bedrooms | $865K | $650K | -24.9% |
4 Bedrooms | $822.5K | $855K | +4.0% |
5+ Bedrooms | - | - | N/A |
Summary: Suttons Bay Township housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 24.9%, 4 bedroom homes increased by 4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Suttons Bay Township | $865K | $675K | -22.0% |
Suttons Bay | $865K | $675K | -22.0% |
Leelanau Township | $1.3M | $650K | -50.0% |
Lake Leelanau | $2.3M | $671K | -71.2% |
Leland Township | $2.3M | $615.5K | -73.6% |
Housing Supply in Suttons Bay Township, MI
How many homes are available in Suttons Bay Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 17 | +6.3% |
Summary: The Suttons Bay Township real estate market had 17 homes for sale in May 2024, a 6.3% 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 | 3 | +50.0% |
3 Bedrooms | 8 | 9 | +12.5% |
4 Bedrooms | 4 | 3 | -25.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Suttons Bay 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 50%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 6 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Suttons Bay Township in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Suttons Bay Township, MI
How long does it take to sell a home in Suttons Bay Township, MI?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
32 Days | 55 Days | +69.9% |
Summary: Homes in Suttons Bay Township had an average of 55 days on market in May 2024, up by 69.9% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Suttons Bay Township; 17% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.