Is Colon 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, Colon Township has remained a Seller's Market.
Housing Prices in Colon Township, MI
How much do homes in Colon Township, MI cost?
Median Sold Price
$222,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Colon Township was $222,000 in May 2024, up 22.1% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $77K | - | N/A |
2 Bedrooms | $207K | $217K | +4.8% |
3 Bedrooms | $181.7K | $228.5K | +25.7% |
4 Bedrooms | $179.9K | $179.5K | -0.2% |
5+ Bedrooms | $164K | $330K | +101.2% |
Summary: Colon Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 25.7%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 101.2%.
Median Sold Price Compared To Nearby Cities
Colon Township | $181.7K | $222K | +22.1% |
Colon | $179.9K | $217.5K | +20.9% |
Housing Supply in Colon Township, MI
How many homes are available in Colon Township, MI?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 16 | 0.0% |
Summary: The Colon Township real estate market had 16 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 3 | 2 | -33.3% |
3 Bedrooms | 11 | 11 | 0.0% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Colon Township 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 decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Colon Township in May 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Colon Township, MI
How long does it take to sell a home in Colon Township, MI?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 23 Days | +95.0% |
Summary: Homes in Colon Township had an average of 23 days on market in May 2024, up by 95% compared to last year.
Breakdown of Home Sale Times
3 Homes Were 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 Colon Township; 60% 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.