Elk Rapids, MI Home Values & Market Trends
Real estate market trends reflect that there have been 49 transactions over the past year in Elk Rapids. The median value for residential home transactions that occurred over the previous year is $455,692.11. The number of current listings in Elk Rapids is 9, and the percentage of properties for sale in the city is 9.00%. Elk Rapids, MI currently has 0 properties in foreclosure, 0 bank owned properties, 0 properties headed for auction, and 9 properties for sale.
Elk Rapids, MI Real Estate Market Overview
| Zip | Median Est. Value |
|---|---|
| 49629 | $ 474,200 $ 245/sqft |
Housing Market Summary for Elk Rapids, MI
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $450K | $402.7K | -10.52% |
| Median Sold Price | $425K | $402.7K | -5.26% |
| Homes For Sale | 7 | 8 | 14.29% |
| Homes Sold | 29 | 22 | -24.14% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Elk Rapids, MI
Browse Homes in Elk Rapids, MI
Elk Rapids home values range from $37,998 to $6,357,645. The median estimated value of a home in Elk Rapids is $455,692.11. The median list price of a home is 529,900, and the total count of properties in the city is 1,429.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Elk Rapids, MI with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There is 1 zips within Elk Rapids, MI; of that zips, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Elk Rapids, MI ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Elk Rapids, MI. There is 1 zips within Elk Rapids, MI; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- AuctionsN/A has 0 auction properties, the highest number of properties going to auction in a single zip in the state of Elk Rapids, MI. Auction homes and other auction properties account for 0% of all properties in Elk Rapids, MI. There is 1 zips within Elk Rapids, MI; of that zips, the median estimated home value for homes going to auction ranges from $0 in N/A to the lowest value of $0 in N/A.
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Guide for Elk Rapids, MI
Explore the nuances of Michigan’s 2023 real estate market, where rising property values meet shifting sold prices and distressed properties offer investment opportunities amidst a stable yet competitive landscape.
The 2023 Detroit real estate market trend showed steady average listing values and an increase in property sales, with neighboring cities displaying more fluctuation but higher property values. This reflects the city’s resilience amidst an unpredictable industry landscape.
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