Is Colon, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Colon was a Seller's Market.
Key Takeaway
Colon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Colon, MI
How much do homes in Colon, MI cost?
Median Sold Price
$189,500
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Colon have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in Colon was $189,500 in April 2024, up 14.3% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63.5K | - | N/A |
| 2 Bedrooms | $175K | $203.5K | +16.3% |
| 3 Bedrooms | $167.5K | $185K | +10.4% |
| 4 Bedrooms | $153.9K | $184.2K | +19.7% |
| 5+ Bedrooms | $164K | $275K | +67.7% |
Summary: Colon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.3%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 67.7%.
Median Sold Price Compared To Nearby Cities
| Colon | $165.7K | $189.5K | +14.3% |
| Colon Township | $173K | $194.5K | +12.4% |
Housing Supply in Colon, MI
How many homes are available in Colon, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 14 | +40.0% |
Summary: The Colon real estate market had 14 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Colon housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Colon, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Colon in April 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Colon, MI
How long does it take to sell a home in Colon, MI?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Colon are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Colon; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
