Is Elberta, MI 49628 a buyer’s or seller’s market?
Elberta is a seller’s market. With about 0.8 months of supply and 0% 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 Elberta housing market right now
In the three months ending August 31, 2026, 0% of homes in Elberta, MI 49628 sold above their list price, the typical home went under contract in 22 days and there were 0.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 4 sales, these figures can swing a lot from month to month.
Within Benzie County, homes here sell faster, and less often over asking, than in any other ZIP code in the county.
Nearby, Lake Ann 49650 (59% sold over asking) and Thompsonville 49683 (45% sold over asking) are even more competitive.
Run the numbers for 49628
Nearby markets
Benzonia 49616Balanced $259 /sq ftBeulah 49617Seller’s market $352 /sq ftFrankfort 49635Buyer’s market $263 /sq ftHonor 49640Seller’s market $538 /sq ft Browse all markets →Where Elberta is
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Questions about Elberta real estate
Is Elberta a buyer’s or seller’s market?
A seller’s market: there were 0.8 months of supply in Elberta, MI 49628 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 Elberta?
The typical home went under contract in 22 days in the latest three months.
Do homes in Elberta sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.8% of the list price.
What are property taxes in Elberta?
About 0.79% of a home’s value a year in Benzie County, or roughly $3,160 on a $400,000 home.
What is the median home price in Elberta?
The median sale price was $339,853 in the three months ending August 31, 2026, about $209 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