Is Mikado, MI 48745 a buyer’s or seller’s market?
Mikado is a balanced market. With about 4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Mikado housing market right now
In the three months ending August 31, 2026, 0% of homes in Mikado, MI 48745 sold above their list price, the typical home went under contract in 26 days and there were 4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (67 days then) and the median sale price rose 95% to $291,874. Overall, Mikado is more competitive than a year ago, so tougher for buyers.
Within Alcona County, homes here sell faster than in 89% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Barton City 48705 (33% sold over asking) and Spruce 48762 (14% sold over asking) are even more competitive.
Run the numbers for 48745
Nearby markets
Barton City 48705Balanced $153 /sq ftBlack River 48721Seller’s market $152 /sq ftCurran 48728Buyer’s market $173 /sq ftGlennie 48737Buyer’s market $96 /sq ft Browse all markets →Towns like Mikado nearby
Find towns like Mikado in other states →Where Mikado is
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Questions about Mikado real estate
Is Mikado a buyer’s or seller’s market?
A balanced market: there were 4 months of supply in Mikado, MI 48745 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Mikado?
The typical home went under contract in 26 days in the latest three months.
Do homes in Mikado sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 89.2% of the list price.
What are property taxes in Mikado?
About 0.82% of a home’s value a year in Alcona County, or roughly $3,280 on a $400,000 home.
What is the median home price in Mikado?
The median sale price was $291,874 in the three months ending August 31, 2026, about $187 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology