Is Sheridan, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Sheridan has remained a Seller's Market.
Key Takeaway
Sheridan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Sheridan, MI
How much do homes in Sheridan, MI cost?
Median Sold Price
$213,750
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Sheridan have sold for 26.5% more than they did a year ago.
Summary: The median home sold price in Sheridan was $213,750 in April 2024, up 26.5% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $114.9K | N/A |
| 2 Bedrooms | $90K | $167.5K | +86.1% |
| 3 Bedrooms | $180K | $216.4K | +20.3% |
| 4 Bedrooms | $160K | $242.5K | +51.6% |
| 5+ Bedrooms | - | $311K | N/A |
Summary: Sheridan 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 86.1%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 51.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Sidney Township | $180K | $240K | +33.3% |
| Sheridan | $169K | $213.7K | +26.5% |
| Fairplain Township | $200K | $236.3K | +18.2% |
| Evergreen Township | $195K | $176K | -9.7% |
Housing Supply in Sheridan, MI
How many homes are available in Sheridan, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 12 | 15 | +25.0% |
Summary: The Sheridan real estate market had 15 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Sheridan 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 increased by 50%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Sheridan, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Sheridan in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Sheridan, MI
How long does it take to sell a home in Sheridan, MI?
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Sheridan are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Sheridan; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
