Comprehensive market data and analysis
12.1 months of supply
High inventory favors buyers with more choices and negotiating power.
| Acreage | 30D | 3M | 6M | 12M | ||
|---|---|---|---|---|---|---|
| No acreage data available for Cannonsburg, Michigan | ||||||
The median price for land in the Michigan area is currently $21K per acre. For a typical parcel, the median sale price is $65K. Market volatility is currently high, meaning prices can vary significantly based on location and access. Recently, the cheapest land sold for $13K while premium lots reached $280K.
the Michigan area is currently a strong buyer's market with 12.1 months of supply. Buyers have more negotiating power and can take time to find the right property. Prices have decreased 3.0% year-over-year.
the Michigan area currently has 12.1 months of inventory supply. This indicates a strong buyer's market. This balanced supply gives both buyers and sellers fair opportunities.
Over the past 12 months, the Michigan area saw 10,964 properties sold, totaling $1382.2M in sales volume. In just the last 3 months, 2,540 properties changed hands.
The current absorption rate in the Michigan area is 8.3% (3-month basis), indicating moderate demand. With depreciating values (-3.0% YoY), buyers may find value opportunities. The top-performing broker in this market is Century 21 White House Realty.
Land in the Michigan area averages $520K per acre. The median price per acre is $21K, which may be more representative of typical transactions. Most parcels sold are around 2.3 acres.
The median land price in the Michigan area stands at $65K. This translates to roughly $21K per acre for the typical parcel size. The average price is $126K, indicating some higher-priced properties pulling up the average.
Market statistics are compiled from multiple sources including LandyDandy listings, Zillow.com, Realtor.com, Redfin.com, county records, and MLS data. While we strive for accuracy, these figures are estimates and may not reflect 100% of market activity. Data is updated regularly but some transactions may have reporting delays. For the most accurate assessment of a specific property, we recommend consulting with a local real estate professional.
