Coldwater-area home prices rise 16% in May, with houses for sale in high demand

A typical Branch County home listed for $231,950 in May, up 16% from a month earlier, an analysis of data from Realtor.com shows.

The median list home price in May was up about 29.6% from May 2021. Branch County’s median home was 1,727 square feet for a listed price of $122 per square foot.

The Branch County market was busy, with a median 25 days on market. A month earlier, homes had a median 49 days on market. The market added 52 new home listings in May, compared with the 44 added in May 2021. The market ended the month with some 69 listings of homes for sale.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

Across all of Michigan, median home prices were $277,400, rising 7.1% from a month earlier. The median Michigan home for sale had 1,617 square feet at list price of $167 per square foot.

Across the United States, median home prices were $446,950, up 5.2% from a month earlier. The median American home for sale had 1,861 square feet, listed at $226 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on The Daily Reporter: Coldwater-area homes for sale rise to $231,950 median price