Is Chikaming 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, Chikaming Township has remained a Seller's Market.
Housing Prices in Chikaming Township, MI
How much do homes in Chikaming Township, MI cost?
Median Sold Price
$576,500
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Chikaming Township was $576,500 in May 2024, down 4.3% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $310K | $259K | -16.5% |
2 Bedrooms | $455K | $505K | +11.0% |
3 Bedrooms | $630K | $559.5K | -11.2% |
4 Bedrooms | $790K | $915K | +15.8% |
5+ Bedrooms | $3.9M | $2.1M | -46.2% |
Summary: Chikaming Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.5%, 2 bedroom homes increased by 11%, 3 bedroom homes decreased by 11.2%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes decreased by 46.2%.
Median Sold Price Compared To Nearby Cities
Sawyer | $425K | $462.7K | +8.9% |
Union Pier | $692.5K | $720K | +4.0% |
Chikaming Township | $602.5K | $576.5K | -4.3% |
Lakeside | $899K | $745K | -17.1% |
Housing Supply in Chikaming Township, MI
How many homes are available in Chikaming Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 40 | +11.1% |
Summary: The Chikaming Township real estate market had 40 homes for sale in May 2024, a 11.1% 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 | 4 | 5 | +25.0% |
3 Bedrooms | 14 | 16 | +14.3% |
4 Bedrooms | 12 | 12 | 0.0% |
5+ Bedrooms | 6 | 7 | +16.7% |
Summary: The Chikaming 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 25%, 3 bedroom homes increased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 9 | +12.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Chikaming Township in May 2024, up by 12.5% month-over-month. Of the 9 sold homes, 78% were sold under asking, 0% were sold at asking, and 22% were sold over asking.
Days on Market for Chikaming Township, MI
How long does it take to sell a home in Chikaming Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 74 Days | +81.2% |
Summary: Homes in Chikaming Township had an average of 74 days on market in May 2024, up by 81.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 9 homes were sold in Chikaming Township; 22% of homes were sold within 30 days, 56% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.