Is Shelbyville, 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, Shelbyville was a Seller's Market.
Housing Prices in Shelbyville, MI
How much do homes in Shelbyville, MI cost?
Median Sold Price
$291,200
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Shelbyville was $291,200 in April 2024, down 2.9% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $204K | +2.0% |
2 Bedrooms | $300K | $269K | -10.3% |
3 Bedrooms | $300.8K | $299.9K | -0.3% |
4 Bedrooms | $380K | $490K | +28.9% |
5+ Bedrooms | $228.5K | $271.8K | +18.9% |
Summary: Shelbyville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes increased by 18.9%.
Median Sold Price Compared To Nearby Cities
Orangeville Township | $255K | $319.9K | +25.5% |
Yankee Springs Township | $352K | $381.7K | +8.5% |
Martin Township | $250K | $269K | +7.6% |
Wayland Township | $290K | $305K | +5.2% |
Shelbyville | $300K | $291.2K | -2.9% |
Housing Supply in Shelbyville, MI
How many homes are available in Shelbyville, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
9 | 7 | -22.2% |
Summary: The Shelbyville real estate market had 7 homes for sale in April 2024, a 22.2% decrease 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 | 2 | 1 | -50.0% |
3 Bedrooms | 5 | 6 | +20.0% |
4 Bedrooms | 2 | 0 | -100.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Shelbyville 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 50%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 1 | -75.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Shelbyville in April 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Shelbyville, MI
How long does it take to sell a home in Shelbyville, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
55 Days | 94 Days | +69.4% |
Summary: Homes in Shelbyville had an average of 94 days on market in Apr 2024, up by 69.4% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Shelbyville; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.