Is Onaway, MI 49765 a buyer’s or seller’s market?

The Onaway housing market right now

In the three months ending August 31, 2026, 9% of homes in Onaway, MI 49765 sold above their list price, the typical home went under contract in 31 days and there were 5.2 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. That’s based on 11 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold faster (54 days then) and the median sale price rose 19% to $278,879. Overall, Onaway is less competitive than a year ago, which gives buyers more room.

Within Presque Isle County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 60%.

Nearby, buyers who want less competition could look at Posen 49776 (0% sold over asking) or Millersburg 49759 (0% sold over asking), while Rogers City 49779 (15% sold over asking) is even more competitive.