Shelby Housing Market Report January 2025•Oceana County, Michigan

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Housing Prices in Shelby, MI

How much do homes in Shelby, MI cost?

Housing Market Conditions

Is Shelby, 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

Shelby is a Seller's Market

Difference Since January 2024

At the same time last year, Shelby was a Buyer's Market.

Insight

Shelby 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.
$225,000$165/SqFt
+$2,500
+1.1%

Based on all homes sold in the last 12 months

Insight

Homes in Shelby have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Shelby was $225,000 in January 2025, up 1.1% from last year, and the median price per square foot was $165.

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
Shelby Township
+6.6%
Shelby
+1.1%

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.
BedsJan 2024Jan 2025Change YoY
1-$102.5K
N/A
2$176K$218.7K
+24.3%
3$270K$270K
0.0%
4$185K$240K
+29.7%
5$143.5K$239.9K
+67.2%

Summary: Shelby 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 increased by +24.3%. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes increased by +29.7%. The home price for 5 bedroom homes increased by +67.2%.

Housing supply in Shelby, MI

How many homes are available in Shelby, 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
24Last MonthJan 2025
232 months agoDec 2024
+4.3 %
Change MoMDec – Jan

Summary: The Shelby real estate market had 24 homes for sale in Jan 2025, a 4.3 % increase 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
5Last MonthJan 2025
22 months agoDec 2024
+150.0 %
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%
233
0.0%
31715
-11.8%
424
+100.0%
512
+100.0%

Summary: Shelby 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 remained the same. The inventory for 3 bedroom homes decreased by -11.8%. The inventory for 4 bedroom homes increased by +100.0%. The inventory for 5 bedroom homes increased by +100.0%.

Asking Price vs. Sold Price

How much do homes in Shelby, 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 Price2 Homes

At Asking Price1 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Shelby, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Shelby in January 2025, up by 150.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and and 40% were sold over asking.

Days on Market for Shelby, MI

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

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days2 Homes

Over 90 Days2 Homes

Insight

Avg time on Rocket Homes in Shelby has remained consistent over time.

Summary: During January 2025, 5 homes were sold in Shelby; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% 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.
This Year1 year agoChange YoY
65 DaysThis YearJan 2025
4 Days1 year agoJan 2024
+1525.0 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Shelby had an average listing age of 65 days in Jan 2025, up by 1525.0% compared to the previous year.

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Newest Listings in Shelby, MI

What homes are available in Shelby, MI?

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MLS Disclaimers and Copyright

Based on information from Michigan Regional Information Center LLC, and RealComp II Ltd. for the period 02/01/2023 - 02/01/2025

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 7:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/5/2025, 7:20:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.