Michigamme Township Housing Market Report January 2025•Marquette County, Michigan

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Housing Prices in Michigamme Township, MI

How much do homes in Michigamme Township, MI cost?

Housing Market Conditions

Is Michigamme Township, MI a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Michigamme Township is a Seller's Market

Difference Since December 2024

Last month, Michigamme Township has remained a Seller's Market.

Insight

Michigamme Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$131,000$119/SqFt
-$214,000
-62.0%

Based on all homes sold in January 2025

Insight

Homes in Michigamme Township have sold for 62% less than they did a month ago.

Summary: The median home sold price in Michigamme Township was $131,000 in January 2025, down 62% from last month, and the median price per square foot was $119.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Michigamme
-62.0%
Michigamme Township
-62.0%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2024Jan 2025Change YoY
1--
N/A
2$214K-
N/A
3$345K$131K
-62.0%
4--
N/A
5--
N/A

Summary: Michigamme Township housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -62.0%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

Housing supply in Michigamme Township, MI

How many homes are available in Michigamme Township, MI?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
5Last MonthJan 2025
92 months agoDec 2024
-44.4 %
Change MoMDec – Jan

Summary: The Michigamme Township real estate market had 5 homes for sale in Jan 2025, a 44.4 % decrease compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
1Last MonthJan 2025
32 months agoDec 2024
-66.7 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
100
0.0%
231
-66.7%
342
-50.0%
411
0.0%
511
0.0%

Summary: Michigamme Township housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -66.7%. The inventory for 3 bedroom homes decreased by -50.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Michigamme Township, MI cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price1 Home

Under Asking Price0 Home

Insight

If you're buying a home in Michigamme Township, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.

Summary: A total of 1 homes were sold or pending in Michigamme Township in January 2025, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 100% were sold at asking, and and 0% were sold over asking.

Days on Market for Michigamme Township, MI

How long does it take to sell a home in Michigamme Township, MI?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days1 Home

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in Michigamme Township has remained consistent over time.

Summary: During January 2025, 1 homes were sold in Michigamme Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
78 DaysLast MonthJan 2025
83 Days1 month agoDec 2024
-6.4 %
Change MoMDec – Jan

Summary: Homes in Michigamme Township had an average listing age of 78 days in Jan 2025, down by 6.4% compared to the previous month.

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Newest Listings in Michigamme Township, MI

What homes are available in Michigamme Township, MI?

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MLS Disclaimers and Copyright

Based on information from MiRealSource Inc. DL, for the period 12/01/2024 - 02/01/2025

IDX Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.

Copyright 2025 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/10/2025, 3:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.