Is Honor, MI 49640 a buyer’s or seller’s market?
Honor is a seller’s market. With about 2.7 months of supply and 8% 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 Honor housing market right now
In the three months ending August 31, 2026, 8% of homes in Honor, MI 49640 sold above their list price, the typical home went under contract in 76 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 12 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 30%, homes sold more slowly (36 days then) and the median sale price rose 87% to $599,740. Overall, Honor is less competitive than a year ago, which gives buyers more room.
Within Benzie County, homes here sell more slowly than in any other ZIP code in the county, and sell less often over asking than in 71%.
Nearby, buyers who want less competition could look at Elberta 49628 (0% sold over asking), while Lake Ann 49650 (59% sold over asking) and Thompsonville 49683 (45% sold over asking) are even more competitive.
Run the numbers for 49640
Nearby markets
Benzonia 49616Balanced $259 /sq ftBeulah 49617Seller’s market $352 /sq ftElberta 49628Seller’s market $209 /sq ftFrankfort 49635Buyer’s market $263 /sq ft Browse all markets →Towns like Honor nearby
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Questions about Honor real estate
Is Honor a buyer’s or seller’s market?
A seller’s market: there were 2.7 months of supply in Honor, MI 49640 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 Honor?
The typical home went under contract in 76 days in the latest three months.
Do homes in Honor sell over asking?
8% of homes sold above their original list price, and the typical sale closed at 96.6% of the list price.
What are property taxes in Honor?
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 Honor?
The median sale price was $599,740 in the three months ending August 31, 2026, about $538 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