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ITHACA, MI 48847

Real Estate Market Report  ·  Gratiot County
Balanced Market
January 2026  ·  Source: Realtor.com

Market Overview

Active Listings
13
⇩ 27.8% vs 18 last year
Pending
4
31% pending ratio
Median Price
$190,500
⇧ 7.6% vs $177,100 last year
Average Price
$223,070
⇧ 21% vs $184,378 last year
Days on Market
85
⇧ 25% vs 68 days last year

Market Context

Population: 5,599  ·  Density: 18.0/mi²  ·  Median household income: $61,809

Typical home value: $144,768  ·  Homeownership: 79.4%

Market Analysis

Data as of January 2026. Source: Realtor.com.

The ITHACA, MI real estate market (48847) currently shows 13 active listings, with 4 pending sales. Homes are averaging 85 days on the market before going under contract.

Inventory has tightened compared to last year, with 5 fewer active listings — creating more competition among buyers.

Homes are taking longer to sell, averaging 85 days on market compared to 68 days last year.

The median listing price has risen 7.6% year-over-year, from $177,100 to $190,500.

Whether you are buying or selling in ITHACA, MI, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 13 this year vs 18 last year
  • Days on market: 85 now vs 68 last year

Median & Average Pricing

Year over Year
  • Median: $190,500 (+7.6% YoY)
  • Average: $223,070 (+21% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 20.4 miles — 74 listings ($19,707,699 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
48847Ithaca, MI 488470.0 mi13$2,899,910$190,500$223,070
48806Ashley, MI 488067.2 mi1$219,900$219,900$219,900
48856Middleton, MI 488569.4 mi1$235,000$235,000$235,000
48807Bannister, MI 4880711.9 mi2$459,800$229,900$229,900
48662Wheeler, MI 4866212.4 mi1$230,000$230,000$230,000
48853Maple Rapids, MI 4885312.9 mi3$412,500$124,000$137,500
48832Elwell, MI 4883214.0 mi6$1,037,880$190,000$172,980
48831Elsie, MI 4883115.5 mi7$1,567,769$173,000$223,967
48877Riverdale, MI 4887716.0 mi3$529,200$176,400$176,400
48845Hubbardston, MI 4884518.0 mi2$459,000$229,500$229,500
48835Fowler, MI 4883518.7 mi4$1,158,532$265,000$289,633
48883Shepherd, MI 4888319.3 mi15$4,168,080$249,000$277,872
48626Hemlock, MI 4862620.4 mi16$6,330,128$267,500$395,633

Frequently Asked Questions

How many homes are for sale in ITHACA, MI 48847?

As of January 2026, there are 13 active listings in ITHACA, MI (zip code 48847), compared to 18 the prior year.

What is the median home price in ITHACA, MI 48847?

The median listing price in ITHACA, MI 48847 is $190,500 as of January 2026, a 7.6% increase from $177,100 the prior year.

How long do homes stay on the market in ITHACA, MI?

Homes in ITHACA, MI 48847 spend an average of 85 days on the market before going under contract, compared to 68 days the prior year.

Is it a seller's or buyer's market in ITHACA, MI 48847?

Based on current inventory and days-on-market data as of January 2026, ITHACA, MI 48847 is currently a Balanced Market. Inventory has tightened compared to last year, with 5 fewer active listings — creating more competition among buyers. Homes are taking longer to sell, averaging 85 days on market compared to 68 days last year.

How much can I save on real estate commission in ITHACA, MI?

With SELL123.com's maximum 3% commission, sellers in ITHACA, MI 48847 save an estimated $3,810 compared to a typical 5% commission on the median listing price of $190,500. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.