Is Utica, 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, Utica has remained a Seller's Market.
Housing Prices in Utica, MI
How much do homes in Utica, MI cost?
Median Sold Price
$462,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Utica was $462,000 in May 2024, up 2.2% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $92.3K | $90K | -2.5% |
2 Bedrooms | $92.3K | $214.9K | +132.9% |
3 Bedrooms | $297.5K | $327.5K | +10.1% |
4 Bedrooms | $643K | $619K | -3.7% |
5+ Bedrooms | $652.9K | $661K | +1.2% |
Summary: Utica housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 132.9%, 3 bedroom homes increased by 10.1%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes increased by 1.2%.
Median Sold Price Compared To Nearby Cities
Sterling Heights | $280K | $294.4K | +5.1% |
Shelby Charter Township | $330.2K | $340.6K | +3.2% |
Utica | $452K | $462K | +2.2% |
Housing Supply in Utica, MI
How many homes are available in Utica, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 41 | +7.9% |
Summary: The Utica real estate market had 41 homes for sale in May 2024, a 7.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 5 | 6 | +20.0% |
3 Bedrooms | 15 | 17 | +13.3% |
4 Bedrooms | 14 | 15 | +7.1% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Utica housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
5 | 19 | +280.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in Utica in May 2024, up by 280.0% month-over-month. Of the 19 sold homes, 26% were sold under asking, 32% were sold at asking, and 42% were sold over asking.
Days on Market for Utica, MI
How long does it take to sell a home in Utica, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 19 Days | -10.2% |
Summary: Homes in Utica had an average of 19 days on market in May 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 19 homes were sold in Utica; 68% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.