Is Palmyra, MI 49268 a buyer’s or seller’s market?
Palmyra is a seller’s market. With about 1.1 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Palmyra housing market right now
In the three months ending August 31, 2026, 33% of homes in Palmyra, MI 49268 sold above their list price, the typical home went under contract in 46 days and there were 1.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (49 days then) and the median sale price rose 236% to $218,405. Overall, Palmyra is more competitive than a year ago, so tougher for buyers.
Within Lenawee County, homes here sell more slowly than in 69% of the county’s ZIP codes, and sell more often over asking than in 69%.
Nearby, buyers who want less competition could look at Jasper 49248 (0% sold over asking) or Tipton 49287 (10% sold over asking), while Clayton 49235 (100% sold over asking) and Sand Creek 49279 (100% sold over asking) are even more competitive.
Run the numbers for 49268
Nearby markets
Addison 49220Buyer’s market $190 /sq ftAdrian 49221Seller’s market $134 /sq ftBlissfield 49228Seller’s market $179 /sq ftBritton 49229Seller’s market $236 /sq ft Browse all markets →Towns like Palmyra nearby
Find towns like Palmyra in other states →Where Palmyra is
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Questions about Palmyra real estate
Is Palmyra a buyer’s or seller’s market?
A seller’s market: there were 1.1 months of supply in Palmyra, MI 49268 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 Palmyra?
The typical home went under contract in 46 days in the latest three months.
Do homes in Palmyra sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 100.6% of the list price.
What are property taxes in Palmyra?
About 1.27% of a home’s value a year in Lenawee County, or roughly $5,080 on a $400,000 home.
What is the median home price in Palmyra?
The median sale price was $218,405 in the three months ending August 31, 2026, about $176 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