Is Stephenson, MI 49887 a buyer’s or seller’s market?
Stephenson is a seller’s market. With about 3.6 months of supply and 50% 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 Stephenson housing market right now
In the three months ending August 31, 2026, 50% of homes in Stephenson, MI 49887 sold above their list price, the typical home went under contract in 60 days and there were 3.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 8 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 18%, homes sold more slowly (46 days then) and the median sale price rose 12% to $192,417. Overall, Stephenson is more competitive than a year ago, so tougher for buyers.
Within Menominee County, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell more often over asking than in 75%.
Nearby, buyers who want less competition could look at Wallace 49893 (0% sold over asking) or Powers 49874 (0% sold over asking).
Run the numbers for 49887
Nearby markets
Carney 49812 — /sq ftDaggett 49821Seller’s market $162 /sq ftHermansville 49847Seller’s market $200 /sq ftIngalls 49848Seller’s market $154 /sq ft Browse all markets →Towns like Stephenson nearby
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Questions about Stephenson real estate
Is Stephenson a buyer’s or seller’s market?
A seller’s market: there were 3.6 months of supply in Stephenson, MI 49887 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 Stephenson?
The typical home went under contract in 60 days in the latest three months.
Do homes in Stephenson sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 95.5% of the list price.
What are property taxes in Stephenson?
About 1.01% of a home’s value a year in Menominee County, or roughly $4,040 on a $400,000 home.
What is the median home price in Stephenson?
The median sale price was $192,417 in the three months ending August 31, 2026, about $146 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